The Atlanta Fed GDPNow growth estimate for you to fall sharply to 1.8% from 2.7% on May 31.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 1.8 percent on June 3, down from 2.7 percent on May 31. After recent releases from the US Census Bureau and the Institute for Supply Management, the nowcasts for annualized second-quarter real personal consumption expenditures growth and real private fixed investment growth declined from 2.6 percent and 3.1 percent, respectively, to 1.8 percent and 1.5 percent.
The next GDPNow update is Thursday, June 6.
This article was written by Greg Michalowski at www.forexlive.com. Source