2Q GDP raised to 3.2% from 2.97% last week

The NY Fed GDP Nowcast estimate for the 2Q GDP has been raised to 3.2% from 2.97% last week.

The biggest contributor this wssk was Industrial Production (added 0.18%) and Capacity Utilization (up 0.14%).

The largest negative for the week came from Retail sales and food services (-0.09%).

The Atlanta Fed GDPNow forecast was reported at 4.1% on Wednesday. It will not be released again until Friday, May 25th.

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