3.9% vs 3.8% last
The Atlanta Fed's most recent estimate for 2Q GDP came in at 3.9% vs 3.8% last.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 3.9 percent on July 11, up from 3.8 percent on July 6. The nowcast of the contribution of inventory investment to second-quarter real GDP growth increased from 0.29 percentage points to 0.36 percentage points after this morning's Producer Price Index release from the U.S. Bureau of Labor Statistics and this morning's wholesale trade release from the U.S. Census Bureau.
The high for the estimate came in at 4.8%. The ow was 3.8%.
According to the graph above, their estimate is in the middle of the range of 10 10 and bottom 10 forecasts (about 3.1% to 4.6%).
The first cut of the US 2nd quarter GDP will be released on July 27th.
