The Atlanta Fed’s second-quarter GDP growth is estimated at 1.8%, up from 2.7% as of May 31

Atlanta Fed GDPNow falls sharply

According to the Atlanta Fed GDPNow growth forecast, growth will fall sharply from 2.7% on May 31 to 1.8%.

In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual growth) in the second quarter of 2024 is 1.8 percent on June 3, compared to 2.7 percent on May 31. Following recent releases from the US Census Bureau and the Institute for Supply Management, annualized real personal consumption expenditure growth and real private fixed investment growth fell from 2.6 percent and 3.0 percent, respectively. 1 percent to 1.8 percent and 1.5 percent.

The next GDPNow update is Thursday June 6.