Third time likely to be charm for US Q2 GDP growth

Data released subsequent to the Bureau of Economic Analysis' preliminary report on real GDP growth during the spring point to yet another markup. 

"Stepped-up spending by consumers and businesses, along with a larger contribution from net exports, is expected to push the annualized growth rate four ticks higher to 4.1%, following a 0.6% rise in Q1", says Societe Generale. 

The mix between final demands and inventories is expected to be even more favorable in this week's report. Real final sales of domestic product, inflation-adjusted GDP less the change in private inventories, likely expanded by 4.0%, the fastest clip sincethe summer of 2014. 

Flipping the signs on the US international trade accounts, real domestic demand growth probably will be boosted by two ticks to 3.5%, essentially matching the clip set over the four previous quarters.