Atlanta Fed revises Q2 GDP growth forecast down to 3.8%

Eren Sengezer FXStreet

"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 3.8 percent on July 6, down from 4.1 percent on July 2," the Federal Reserve Bank of Atlanta reported on Friday.

Key takeaways

Since the last GDPNow update on Monday, July 2, the nowcasts of second-quarter real consumer spending growth and second-quarter real gross private domestic investment growth have declined from 2.9 percent and 7.1 percent, respectively, to 2.7 percent and 6.0 percent, respectively.
These declines more than offset an increase in the nowcast of the contribution of net exports to second-quarter real GDP growth from 0.62 percentage points to 0.70 percentage points after this morning's international trade release from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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