• The United States Gross Domestic Product is seen expanding at an annualized rate of 2% in Q2.
• The current resilience of the US economy bolsters the case for a soft landing.
• Markets expect the US Federal Reserve to start its easing cycle in September.

The US Bureau of Economic Analysis (BEA) will publish the first estimate of the US Gross Domestic Product (GDP) for the April-June period on Thursday. The report is expected to show an economic expansion at an annual rate of 2%, following the 1.4% growth recorded in the prior quarter.

Forecasting US Gross Domestic Product: Deciphering the numbers

Thursday's economic agenda in the US features the unveiling of the initial GDP report for the second quarter, set to be disclosed at 12:30 GMT. Analysts anticipate that the first assessment will reveal a 2% growth rate for the world's largest economy in the April-June period, a moderately robust pace, especially when compared to the 1.4% expansion recorded in the preceding quarter. 

According to the Federal Reserve (Fed) Bank of Atlanta’s latest GDPNow estimate published on July 17, the US economy grew at an annual rate of 2.7% in the second quarter. “The nowcasts of second-quarter real personal consumption expenditures growth and second-quarter real gross private domestic investment growth increased from 2.1% and 7.7%, respectively, to 2.2% and 8.9%,” notes the Atlanta Fed in its press release, explaining the impact of June Housing Starts and Industrial Production data on GDP