Estimates have been between 3.9% and 4.3% for the GDP tracker
The Atlanta Fed GDPNow estimate for 2Q GDP comes in at 4.0% vs 4.1% last. The estimates have been between 3.9% and 4.3% since starting the forecast.
In their words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 4.0 percent on May 25, down from 4.1 percent on May 16. After increasing from 3.3 percent to 5.4 percent following Wednesday's reports on new-home sales and costs from the U.S. Census Bureau, the nowcast of second-quarter real residential investment growth fell back down to 1.1 percent following Thursday's existing-home sales release from the National Association of Realtors.
The next estimate will be on Thursday, May 31.
The NY Fed Nowcast GDP estimate will released later today. Last Friday, the estimated 2Q GDP came in at a lower level (vs Atlanta) at 3.2%. That was up from 2.97% in the prior week.
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