Atlanta Fed GDPNow estimate for Q2 progress 3.9%

The preliminary studying for Q2 progress from the Atlanta Fed GDPNow mannequin is available in at 3.9%. There’s a lengthy option to go earlier than that precise superior GDP quantity is finalized (three months).

In Q1, the Atlanta Fed’s predictive powers had been tarnished a bit after forecasting 2.7% progress. The precise progress charge reported yesterday was 1.6%.

In their very own phrases immediately:

The preliminary GDPNow mannequin estimate for actual GDP progress (seasonally adjusted annual charge) within the second quarter of 2024 is 3.9 p.c on April 26. The preliminary estimate of first-quarter actual GDP progress launched by the US Bureau of Financial Evaluation on April 25 was 1.6 p.c, 1.1 proportion factors under the ultimate GDPNow mannequin nowcast launched on April 24.

The following estimate can be launched on Could 1