Atlanta Fed Significantly Raises US Q2 Economic Growth
The Atlanta Fed's GDPNow model estimates that the U.S. GDP growth rate for the second quarter is 3.8%, up from the previous estimate of 2.2%. Following recent data releases from the U.S. Census Bureau and the Bureau of Economic Analysis, the Atlanta Fed's GDPNow model's immediate forecast for the contribution of net exports to second-quarter real GDP growth jumped from -0.64% to 1.45%. However, the immediate forecasts for second-quarter real personal consumption expenditure growth and second-quarter real domestic private investment growth have declined, from 3.7% and -0.2% to 3.3% and -1.4%, respectively.
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