Wednesday , 6 November 2024
Home Forex Atlanta Fed GDPNow Q2 growth estimate dips to 3.3% from 3.9%
Forex

Atlanta Fed GDPNow Q2 growth estimate dips to 3.3% from 3.9%

The Atlanta Fed GDPNow growth estimate for Q2 growth moved to 3.3% from 3.9% in its inaugural model value.

In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 3.3 percent on May 1, down from 3.9 percent on April 26. After this morning’s construction spending release from the US Census Bureau and the Manufacturing ISM Report On Business from the Institute for Supply Management, the nowcasts of second-quarter real personal consumption expenditures growth and second-quarter real gross private domestic investment growth decreased from 4.0 percent and 4.5 percent, respectively, to 3.1 percent and 4.0 percent, while the nowcast of the contribution of the change in real net exports to second-quarter real GDP growth increased from -0.05 percentage points to 0.01 percentage points.

The next GDPNow update is Thursday, May 2.

This article was written by Greg Michalowski at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Eurozone September PPI -0.6% vs -0.6% m/m expected

Prior +0.6%Looking at the details, most of the drop comes from energy...

The race for control of the House is playing out accordingly for the most part thus far

The NYT projection has Republicans with 194 seats and Democrats with 173...

Crypto Cities: Futures vs. Options in Crypto Markets

The cryptocurrency market is evolving rapidly, and with it, advanced financial instruments...

UK October construction PMI 54.3 vs 55.5 expected

Construction PMI 54.3 vs 55.5 expected and 57.2 prior.Key findings:Civil engineering remains...