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![neilksethi Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::2252413050.png) Neil Sethi [@neilksethi](/creator/twitter/neilksethi) on x 12.3K followers
Created: 2025-07-17 15:14:11 UTC

Despite the stronger than expected June retail sales and July Philly Fed manufacturing index and low weekly jobless claims, Goldman cuts Q2 GDP tracking estimate by 0.1pp to +2.9% (quarter-over-quarter annualized) as core retail sales growth for both April and May was revised down. Their Q2 domestic final sales estimate remained at +0.9%.

They also lowered their June core PCE estimate to XXXX% (from 0.26%) on the soft import prices data, corresponding to a year-over-year rate of +2.73%.

"Headline import prices rose XXX% in June, below expectations. Import prices ex-petroleum were flat, also below expectations. Prices rose for consumer goods (+0.4%), industrial supplies (+0.2%), were flat for capital goods, and declined for food and beverages (-0.8%) and autos (-0.1%). The international airfares component of import prices, which is source data for the foreign travel component of core PCE, declined -XXX% (SA by GS)."

![](https://pbs.twimg.com/media/GwEZAe5XgAEO7iV.png)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945864615184707631/c:line.svg)

**Related Topics**
[inflation](/topic/inflation)
[gdp](/topic/gdp)
[fed](/topic/fed)
[gdp growth](/topic/gdp-growth)

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