US: Atlanta Fed's GDPNow edges higher to 9.3% for Q2 after latest US data

Eren Sengezer FXStreet

The real gross domestic product (GDP) in the United States is expected to grow by 9.3%, up from 9.1% on May 27, in the second quarter of 2021, the Federal Reserve Bank of Atlanta's latest GDPNow report showed on Friday.

"After this morning’s releases from the US Bureau of Economic Analysis and the US Census Bureau, the nowcast of second-quarter real gross private domestic investment growth decreased from 25.1% to 20.7%, while the nowcast of the contribution of the change in real net exports to second-quarter real GDP growth increased from -1.68 percentage points to -0.90 percentage points," the Atlanta Fed explained in its publication.

Market reaction

This report doesn't seem to be having a noticeable impact on the USD's performance against its rivals. As of writing, the US Dollar Index was up 0.15% on a daily basis at 90.14.

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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