Atlanta Fed GDPNow model projects growth at 7.8%
The Atlanta Fed GDPNow forecast for Q2 growth has been lower to 7.8% from 8.6% after the US jobs report.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2021 is 7.8 percent on July 2, down from 8.6 percent on July 1. After this morning's releases from the U.S. Bureau of Economic Analysis, the U.S. Census Bureau, and the U.S. Bureau of Labor Statistics, the nowcasts of second-quarter real personal consumption expenditures growth and second-quarter real gross private domestic investment growth decreased from 11.3 percent and 6.1 percent, respectively, to 10.4 percent and 4.7 percent, respectively.
The next GDPNow update is Friday, July 9. Please see the "Release Dates" tab below for a list of upcoming releases.