Atlanta Fed GDP tracking estimate for Q2 lowered to 0.7% from 0.8%

GDPNow estimate lowered after retail sales.

The Atlanta Fed GDP tracking model decreased the estimate of Q2 GDP to 0.7% from 0.8% after retail sales.

It will next be updated after US housing starts data on May 20.

It's been getting attention since it accurately predicted the first estimate of Q1 GDP.