Atlanta Fed GDPNow tracker rises
The Atlanta Fed GDPNow tracker for 2Q growth rose to 2.9% from 2.6% yesterday. That is the highest level for the Q2 growth from the Fed ‘s model.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2023 is 2.9 percent on May 17, up from 2.6 percent on May 16. After this morning’s housing starts report from the US Census Bureau, the nowcast of second-quarter real residential investment growth increased from -6.3 percent to 0.6 percent.
The next report will be released on May 26