UPDATE 1-Morgan Stanley sees US Q2 GDP growth at 1.1%, Goldman view 2.2%

Morgan Stanley's economists said on Friday they expect that U.S. economic growth is running at a 1.1% annual pace in the second quarter due to a reversal of the surge in exports and inventories recorded in the first quarter. Goldman Sachs analysts marked down their estimate on U.S. gross domestic product in the current quarter, but the pace was still twice as fast as Morgan Stanley's projection. "Our preliminary expectations for growth in the second quarter sees large drags from net exports and inventories after their contributions in 1Q," Morgan Stanley economists wrote in a research note.

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