Goldman Sachs raised their Q2 US economic growth tracking estimate due to better data flow

<p>Goldman Sachs on the data flow and their better projections that flowed from it:</p><p>BOTTOM LINE: </p><ul><li>The consumer confidence index was stronger than expected in June, jumping to its highest level since January 2022, as both the present situation and expectations components rose. </li><li>The labor differential also improved. </li><li>New home sales increased in May, also well above expectations, from a downwardly revised level. </li><li>This morning's data indicated a firmer pace of residential, inventory, and equipment investment in the second quarter. We boosted our Q2 GDP tracking estimate by 0.4pp to +2.2% (qoq ar).</li></ul><p>More on the data can found here:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-us-consumer-confidence-jumps-20230627/" target="_blank" rel="follow" data-article-link="true">Forexlive Americas FX news wrap: US consumer confidence jumps</a></li></ul><p>US consumer confidence June 2023</p><p>US consumer confidence</p>

This article was written by Eamonn Sheridan at www.forexlive.com.