The latest GDP tracking estimate from the Atlanta Fed

  • An update was last released on Tuesday, when it was cut to 3.6% from 4.2%

From the Atlanta Fed:

"The forecast for second-quarter real consumer spending inched up from 2.7 percent to 2.8 percent after this morning's retail sales release from the U.S. Census Bureau and this morning's Consumer Price Index report from the U.S. Bureau of Labor Statistics. The forecast for second-quarter real government spending growth fell from 0.1 percent to -0.4 percent following the Monthly Treasury Statement issued yesterday by the U.S. Bureau of the Fiscal Service."

Goldman Sachs sees better growth

Meanwhile, Goldman Sachs raised its Q2 GDP estimate from 2.9% to 3.1% on the "combination of upward retail sales revisions and lower core inflation," according to ZeroHedge.

New York Fed Q2 Nowcast bumped to 1.9% from 1.8%

"Small positive news from retail sales data and price indexes increased the nowcast for Q2 by 0.1 percentage point," the New York Fed said.