The Atlanta Fed has released a new update from its GDPNow model, and this time, it’s a positive one. As of May 6, the model estimates second quarter real GDP growth of 2.2%, up from 1.1% on May 1 and down from 2.4% on April 30.
Atlanta Fed GDPNow Model at 2.2% Growth for Q2, up from 1.1%
In addition, the Atlanta Fed increased its second quarter real personal consumption expenditures growth forecast to 3.3% from 1.9% and its real private fixed investment growth to 3.6% from 1.3%. The next GDPNow update will be provided on Thursday, May 8.
The positive real GDP forecast is welcome news for investors, as real GDP declined by 0.30% during the first quarter.
