Atlanta Fed GDPNow dips to 1.6% from 19%
The Atlanta Fed GDPNow estimate for 2Q growth to 1.6%. from 1.9% from April 29 after the construction spending data today.
In their own words
"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2022 is 1.6 percent on May 2, down from 1.9 percent on April 29. After this morning's releases from the US Census Bureau and the Institute for Supply Management, the nowcasts for second-quarter real personal consumption expenditures and second-quarter real gross private domestic investment growth declined from 3.8 percent and -1.3 percent, respectively, to 3.6 percent and -2.1 percent, respectively."
The next estimate will come on May 4.
For the full report CLICK HERE.
