Atlanta Fed GDPNow estimate for 2nd quarter growth

The Atlanta Fed GDPNow estimate for 2Q remained unchanged at 0.0% after the data releases this morning. In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2022 is 0.0 percent on June 16, unchanged from June 15 after rounding. After this morning's housing starts report from the US Census Bureau, the nowcast of second-quarter real residential investment growth increased from -8.5 percent to -7.7 percent.

The next report will be released on Monday, June 27.