* Q2 GDP expected to be revised downward
* Initial jobless claims seen falling in latest week
* Dell to post results after closing bell (Updates prices, adds byline)
NEW YORK, Aug 27 (Reuters) - Stock index futures were little changed on Thursday ahead of data expected to show that the U.S. economy shrank further in the second quarter and the number of jobless claims improved slightly.
The preliminary reading of gross domestic product in the second quarter, due at 8:30 a.m. EDT, is forecast to be revised to minus 1.5 percent on an inflation-adjusted annualized basis, compared with an original reading of minus 1.0 percent.
Initial claims for state unemployment benefits are expected to have dropped to 565,000 in the week to Aug. 22 from 576,000 the previous week. Last week's unexpected rise added to concerns that an economic recovery would be anemic at best. The data is also due at 8:30 a.m.
Rick Meckler, president of LibertyView Capital Management in New York, doesn't expect any surprises in the numbers. "But the market has come a very long way, and I think now investors are less focused on whether numbers are in line, and looking for some evidence of a true recovery," he said.
Dell Inc will report quarterly results after the closing bell, and could shed light on whether corporate technology spending has begun to recover.
"Investors are looking whether the consumer is coming out of the slump of the last six months," Meckler said. "One clue will be Dell."
S&P 500 futures fell 0.2 points and were slightly below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Nasdaq 100 futures were down 1.25 points, and Dow Jones industrial average futures off 7 points.
Crude oil futures dropped for a third straight session and traded as low as $70.81 per barrel, a decline of 4.8 percent from Monday's settling price.
American International Group Inc rose 3.3 percent to $38.95 in premarket trade after the new chief executive of the bailed-out insurer, Robert Benmosche, told Reuters on Wednesday he did not favor a fire sale of its assets. He also said in the interview that in a year people will say the company is performing well.
U.S. investors stayed cautious on Wednesday after a rally that has taken the market to 10-month highs. Stocks were little changed despite solid reports on new home sales and durable goods orders.