The Atlanta Fed GDPNow Q2 growth estimate rises to 2.5% from 2.2% last. In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 2.5 percent on July 16, up from 2.0 percent on July 10. After this morning’s retail sales report, the nowcast of second-quarter real personal consumption expenditures growth increased from 1.6 percent to 2.1 percent.
The next GDPNow update is Wednesday, July 17..
Since falling to 1.5% earlier in July, the Old Testament has seen a steady move higher.
