by Mike ‘Mish’ Shedlock
Ahead of the advance (first) report of 2nd quarter GDP, Markit Chief economist Chris Williamson estimated second quarter at 1.0%.
The reported result was 1.1% and it’s likely to be downgraded tomorrow in the second estimate coming up tomorrow.
Today, Williamson forecasts “just under 1.0%” for the third quarter.
Service Sector Slowdown Intact
Williamson’s third quarter estimate comes in a comment to today’s Markit Flash U.S. Services PMI™ report that shows Service sector growth remains sluggish in August.