Atlanta Fed GDPNow model for Q2 growth unchanged at 2.4%

<p>The Atlanta Fed GDPNow Q2 estimate comes in at 2.4%, unchanged from the prior model estimate. In their own words:</p><blockquote>The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2023 is 2.4 percent on July 26, unchanged from July 19 after rounding. After recent releases from the US Census Bureau and the National Association of Realtors, the nowcast of second-quarter real residential investment growth decreased from 0.1 percent to -0.1 percent.</blockquote><p>This is the last GDPNow forecast for the second quarter. The estimate from economists is for a gain of 1.8% for Q2 growth when it is a announced on Thursday at 8:30 AM ET. That is down from 2.0% last quarter.</p>

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