The Atlanta Fed’s GDPNow growth estimate for the second quarter stands at 3.1% compared to 2.8% yesterday

The Atlanta Fed’s GDPNow growth estimates for the second quarter stand at 3.1% compared to 2.8% yesterday. IN their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 3.1 percent on June 7, compared to 2.6 percent on June 6. Following this morning’s employment situation release from the U.S. Bureau of Labor Statistics and this morning’s wholesale trade report from the U.S. Census Bureau, nowcasts of real growth in personal consumption expenditures from the second quarter and second quarter Real gross private domestic investment growth during the quarter increased from 2.4 percent and 5.8 percent to 2.8 percent and 7.7 percent, respectively.

The next GDPNow update is Tuesday June 18.