Still a long way to go...
The Atlanta Fed GDPNow tracker for Q2 growth dipped to 10.1% from 10.5% on Friday. The estimate is from their economic model given recent data. There is still a long way to go until the 2Q GDP is released at the end of July 2021.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2021 is 10.1 percent on May 18, down from 10.5 percent on May 14. After this morning's housing starts report from the U.S. Census Bureau, the nowcast of second-quarter real residential investment growth decreased from 19.2 percent to 10.6 percent.
The next estimate will be on May 27.
