The Atlanta Fed’s GDPNow growth estimate for the second quarter is down to 3.8%, from 4.2% previously. In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 3.8% on May 15, up from 4.2% on May 8. , from the U.S. Bureau of Labor Statistics and the U.S. Census Bureau, a decrease in the nowcast for growth in real personal consumption expenditures in the second quarter from 3.9% to 3.2% was slightly offset by a increase in nowcast of real growth in second quarter private gross domestic expenditure. investment growth from 6.8 percent to 7.3 percent.
The next GDPNow update will be on Thursday, May 16.
This article was written by Greg Michalowski at www.forexlive.com.
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