Atlanta Fed GDPNow rises to 2.7%
Only a couple weeks in the past, the Atlanta Fed GDP development estimate was close to 1.5%. In its most up-to-date calculation simply launched, the anticipated development charge rose to 2.7% from 2.5% final. Progress goes from under development to above development in a brief time period.
IN their very own phrases:
The GDPNow mannequin estimate for actual GDP development (seasonally adjusted annual charge) within the second quarter of 2024 is 2.7 % on July 17, up from 2.5 % on July 16. After this morning’s housing begins report from the US Census Bureau and industrial manufacturing report from the Federal Reserve Board of Governors, the nowcasts of second-quarter actual private consumption expenditures development and second-quarter actual gross non-public home funding development elevated from 2.1 % and seven.7 %, respectively, to 2.2 % and eight.9 %.
The following GDPNow replace is Wednesday, July 24.
