Atlanta Fed GDPNow rises to 2.2% from 1.6%

The Atlanta Fed GDPNow estimate for 2Q GDP growth rose to 2.2% from 1.6% on May 6. In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2022 is 2.2 percent on May 4, up from 1.6 percent on May 2. After this morning's light vehicle sales release from the US Bureau of Economic Analysis, the nowcast for second-quarter real personal consumption expenditures growth increased from 3.6 percent to 4.4 percent.

The next estimate will be released on Monday, May 9.