We’re counting down the final days of Q2 but we’re still a long ways away from the first reading on GDP. Still, the tracking numbers from the Atlanta Fed are strong right now and that could keep the Fed on the sidelines in September.
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 3.0 percent
on June 20, down from 3.1 percent on June 18. After this morning’s
housing starts report from the US Census Bureau, the nowcast of
second-quarter real gross private domestic investment growth decreased
from 8.8 percent to 8.3 percent.
The next update to the GDPNow reading isn’t until next Thursday and the final reading comes on July 24.
This article was written by Adam Button at www.forexlive.com.
