Expect to hear this morning that the U.S. economy slowed further in the second quarter, Bloomberg News says.
In advance of the 8:30 a.m. ET release from the Bureau of Economic Analysis of data on second-quarter gross domestic product growth, the news service says “a median forecast of 81 economists” shows they expect to hear there was growth at a 1.4 percent annual rate, down from a 1.9 percent pace in the first quarter.
That would also mean growth had cooled to the slowest pace since second-quarter 2011, when it grew at a 1.3 percent annual rate.
In the often hard-hearted world of Wall Street, a report showing slower growth is being viewed this morning as potentially good news. According to The Wall Street Journal, “U.S. stock futures traded essentially unchanged Friday as investors awaited data expected to confirm a further economic slowdown in the second quarter that bulls hope will spur more monetary stimulus.”
We’ll update this post with news from the report after it is released.