Atlanta Fed GDPNow estimate for 2Q growth
For what it is worth, the Atlanta Fed GDPNow model for 2Q GDP growth rose in their current estimate to 10.5% from 9.3%. In their own words.
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2021 is 10.5 percent on June 15, up from 9.3 percent on June 9. After recent releases from the U.S. Bureau of Labor Statistics, the U.S. Department of the Treasury's Bureau of the Fiscal Service, the U.S. Census Bureau, and the Federal Reserve Board of Governors, an increase in the nowcast of second-quarter real personal consumption expenditures growth from 9.0 percent to 11.1 percent was partly offset by decreases in the nowcasts of second-quarter real gross private domestic investment growth and second-quarter real government spending growth from 18.1 percent and 5.7 percent, respectively, to 17.6 percent and 5.1 percent, respectively.
The next release will be on Wednesday.
