The Atlanta for GDPNow model for Q2 growth fell to 1.9% from 2.9% previously. In their own words:
The GDPNow model’s estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2023 is 1.9% on May 26, down from 2.9% on May 17. Following recent releases from the U.S. Census Bureau, the U.S. Bureau of Economic Analysis, and the National Association of Realtors, declines in the nowcasts of second-quarter real net exports and second-quarter real gross private domestic investment growth were partially offset by increases in the nowcasts of second-quarter real personal consumption expenditure growth and second-quarter real government expenditure growth.
A look at the winners and losers from the latest report from May 23.
The next report will be June 1
This article was written by Greg Michalowski at www.forexlive.com.