Minimal/No Weight Loss, but Waist shrinking?

I’ve been eating at an average of 2000kcal per day, which is about a -500 to -700 deficit according to the NIH Body Weight Calculator site.

For the first couple of months, my weight has dropped slowly but now has stalled for the last month, staying around the 85kg range. However, my waist is still shrinking at about a rate of 0.5cm per week. Is my body undergoing a recomp? I thought things like this were unusual for the trained individual (lifting nearly 2 years now). Should I continue to proceed at my current 2000kcal daily average and just ride out the waist reduction while keeping my weight? I’m not too concerned about the latter and would like to preserve as much lean mass as I can.

Seems like you’re near maintenance energy intake level, which is likely higher than 2000 Cal/day, but is otherwise reducing body fat and maintaining/increasing LBM. I think if your waist circumference is going down, I’d just ride that out until you need an adjustment.