The Atlanta Federal Reserve's GDPNow model has revised its estimate for Q2 2024 U.S. GDP growth down to 1.7% on July 1, from a previous estimate of 2.2% on June 28. This follows an earlier revision from 3.0% to 2.7% on June 27. The downward revisions are attributed to declines in net exports and housing, although consumer spending, contributing 1.68%, and private investment have shown positive contributions. The latest adjustment comes after new data releases from the U.S. Census Bureau and the Institute for Supply Management.
🇺🇸 United States Atlanta Fed GDPNow (Q2) $USD Actual: 1.7%
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 1.7 percent on July 1, down from 2.2 percent on June 28. After this morning’s releases from the US Census Bureau and the Institute for Supply Management, the nowcasts…
Atlanta Fed GDPNow growth estimate for Q2 1.7% versus 2.2% previously https://t.co/5nZM9ckAvQ
On July 1, the #GDPNow model nowcast of real GDP growth in Q2 2024 is 1.7%: https://t.co/T7FoDdgYos #ATLFedResearch Download our EconomyNow app or go to our website for the latest GDPNow nowcast: https://t.co/NOSwMl7Jms https://t.co/zRG7dIdnQn
🇺🇸 United States Atlanta Fed GDPNow (Q3) $USD Actual: 1.7%
Atlanta Fed GDPNow https://t.co/S1DUlidxSK
Latest Q2 GDP Nowcasts: ATL: 2.2% v. 3.0% prev NY: 1.93% v. 1.89% prev STL: 0.76% v. 0.80% prev Looks like the memo finally reached ATL Fed about consumers having hit their limit... https://t.co/2ON3koaSK1
Atlanta Fed GDPNow Q2 estimate lowered again https://t.co/PyapSDvpBM
Atlanta Fed GDPNow is Falling: {Chart from ECAN} https://t.co/lq4zkaIO0r
🇺🇸 United States Atlanta Fed GDPNow (Q2) $USD Actual: 2.2% 🔴 Expected: 2.7% Previous: 2.7%
GDPNow - Federal Reserve Bank of Atlanta https://t.co/JmF1YLCRVq
GDPNow from @AtlantaFed now at +2.7% (q/q ann.) for 2Q2024 … housing and net exports are in negative territory; consumer spending still contributing a solid 1.68% of 2.7% growth https://t.co/XMmMsbVtAP
Atlanta Fed GDPNow 2.7% vs 3.0% prior https://t.co/ebffdtFoeR
Atlanta Fed GDPNow for Q2 is revised lower US GDP growth for Q2'24 revised down to 2.7% (from 3.0%). Net exports down, but private investment up. #economics #inflation #GDPNow https://t.co/ccrRju2lWl
On June 27, the #GDPNow model nowcast of real GDP growth in Q2 2024 is 2.7%: https://t.co/T7FoDdgYos #ATLFedResearch Download our EconomyNow app or go to our website for the latest GDPNow nowcast: https://t.co/NOSwMl7Jms https://t.co/cKRpg0TQtJ