GDP growth stays steady in the 2% range - Nomura

Analysts at Nomura explained that Q2 GDP estimates along with revisions back to 2014 are in line with their view that the economy continues to grow at a pace of about 2%. 

Key Quotes:

"The average pace of growth in H1 is now at 1.9%, and our forecast for 2017 growth is 2.0% y-o-y."

"Top-line real GDP growth rates from Q1 2014 through Q1 2017 on a quarterly basis were revised."

"The average of absolute differences between headline GDP growth rates before and after the revision during this period was 0.4pp."

"However, the overall trajectory of GDP did not change materially."