The Atlanta Fed boosted its final Q2 GDP tracker to -1.2% from -1.6% ahead of tomorrow's release. The consensus is +0.5% but it's been sliding this week and there are plenty of bets on a negative number.
The report today said:
After recent releases from the US Census Bureau and the National Association of Realtors, the nowcast of the contribution of inventory investment to second-quarter real GDP growth increased from -2.50 percentage points to -2.30 percentage points, while the the nowcast of the contribution of the change in real net exports to second-quarter real GDP growth increased from 0.18 percentage points to 0.59 percentage points.
