Goldman just trimmed Q3 GDP tracking to +2.7% (down 0.1pp).
The culprit? Trade data came in weaker than expected, offsetting stronger inventory numbers from the Advance Economic Indicators Report.
Not a disaster, but worth watching — if trade stays soft and inventories keep building, we could see some messy revisions ahead. Macro bulls still have room to run, but the margin for error is tightening.
The culprit? Trade data came in weaker than expected, offsetting stronger inventory numbers from the Advance Economic Indicators Report.
Not a disaster, but worth watching — if trade stays soft and inventories keep building, we could see some messy revisions ahead. Macro bulls still have room to run, but the margin for error is tightening.