Atlanta Fed GDPNow estimate for 2Q growth

The Atlanta Fed GDPnow estimate for the 2nd quarter growth rose to 2.5% from 1.8% after recent economic data . In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2022 is 2.5 percent on May 17, up from 1.8 percent on May 9. After the May 9 GDPNow update and subsequent releases from the US Bureau of Labor Statistics, the US Census Bureau, the Federal Reserve Board of Governors, and the US Department of the Treasury's Bureau of the Fiscal Service, the nowcasts of second-quarter real personal consumption expenditures growth, second-quarter real gross private domestic investment growth, and second-quarter real government spending growth increased from 4.3 percent to 4.8 percent, -2.8 percent to -1.3 percent, and 1.4 percent to 1.6 percent, respectively.

The next estimate will be tomorrow.