US GDP Q2 second release preview: The past looks better than the future

The United States economy has been printing very solid numbers for a while now, but that pretty picture might be slowly getting uglier. Ahead of tomorrow's US Gross Domestic Product second estimation release, we take a look at the US economic activity table which, in words of our Senior Analyst Yohay Elam, shows "a mixed picture" with "the past looking better than the future". 

Read Yohay's US GDP preview: Expect a disappointment to down the dollar – FXStreet Surprise Index

Mixed US economic activity table hints potential negative revisions

The table shows mixed results, with plenty of hard-data indicators (lead by Durable Goods & Retail Sales) showing positive trends but the bigger business surveys hinting growing pessimism about the US economy both in the manufacturing and services sector.

That could lead to negative revisions of the 2.1% growth released in the Q2 GDP's first estimation. Check it out: