The first reading of second-quarter growth from the Atlanta Fed’s GDPNow model stands at 3.9%. There is a long way to go before this advanced GDP figure is finalized (three months).
In the first quarter, the Atlanta Fed’s predictive power waned somewhat after forecasting 2.7% growth. The real growth rate announced yesterday was 1.6%.
In their own words today:
The GDPNow model’s initial estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 3.9 percent The initial estimate of first-quarter real GDP growth released by the U.S. Bureau of Economic Analysis on April 25 was 1.6 percent, 1.1 percentage points lower than the model’s final nowcast GDPNow published on April 24.
The next estimate will be published on May 1
Atlanta Fed’s GDPNow Estimate for Second Quarter Growth
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