The Atlanta Fed GDPNow mannequin estimate for actual GDP development dip to 1.3% from 1.9% on Might 27.
In their very own phrases
The GDPNow mannequin estimate for actual GDP development (seasonally adjusted annual fee) within the second quarter of 2022 is 1.3 % on June 1, down from 1.9 % on Might 27. After this morning’s Manufacturing ISM Report On Enterprise from the Institute for Provide Administration, and this morning’s development spending report from the US Census Bureau, the nowcasts of second-quarter actual private consumption expenditures development and actual gross non-public home funding development declined from 4.7 % and -6.4 %, respectively, to 4.4 % and -8.2 %, respectively.
The subsequent report is anticipated on June 7