Recovers from recent swing low of 1.1%
The modest recovery in the Atlanta Fed GDPNow forecast for Q2 growth continues with a rise to 1.5% from 1.3% last. The low for the index reached 0.9% early in May and was at 1.1% mid month.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2019 is 1.5 percent on June 6, up from 1.3 percent on June 3. On Tuesday, June 4, the nowcasts of second-quarter real personal consumption expenditures growth and second-quarter real nonresidential equipment investment growth increased from 3.0 percent and -1.2 percent, respectively, to 3.2 percent and 0.2 percent, respectively, after the light vehicle sales release by the U.S Bureau of Economic Analysis and the M3-2 manufacturing report by the U.S. Census Bureau.
The next report will come tomorrow after the US employment report.
