GDP for 2Q estimate
The most recent estimate for 2Q GDP from the Atlanta Fed remained unchanged at 2.9%. This is above the estimate from the NY Fed who on Friday announced that they see GDP at 1.0% for the 2Q and 1.5% in the 3Q.
In their own words, the Atlanta Fed comments:
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2017 is 2.9 percent on June 26, unchanged from June 16. The forecasts of the contributions of real nonresidential equipment and inventory investment to second-quarter real GDP growth declined from 0.15 and 0.76 percentage points to 0.12 and 0.69 percentage points, respectively, after this morning's durable manufacturing report from the U.S. Census Bureau. The forecast of second-quarter real residential investment growth increased from -0.3 percent to 2.5 percent after Friday's new-home sales release from the Census Bureau.
The next report will be released on June 30th
The estimate is down from 4.3% at the start of their estimates.
