The Atlanta Fed GDPNow estimate for Q2 growth remained unchanged vs yesterday’s value at 2.4%. The US housing starts and building permits did little to sway the growth estimate.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2023 is 2.4 percent on July 19, unchanged from July 18 after rounding. After this morning’s housing starts report from the US Census Bureau, the nowcast of second-quarter real residential investment growth increased from -0.8 percent to 0.1 percent.
The next estimate will be on Wednesday, July 26th
This article was written by Greg Michalowski at www.forexlive.com. Source