Atlanta Fed GDPNow growth estimate for 2Q dips to 3.5% from 3.6% on May 16. In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 3.5 percent on May 24, down from 3.6 percent on May 16. After recent releases from the US Census Bureau and the National Association of Realtors, the nowcast of second-quarter real gross private domestic investment growth decreased from 5.6 percent to 5.1 percent.
The next GDPNow update is Friday, May 31.
This article was written by Greg Michalowski at www.forexlive.com. Source