FX.co ★ Atlanta Fed GDPNow Revises Down Second Quarter GDP Growth to 3.8%

In a recent update released on 15 May 2024, the Federal Reserve Bank of Atlanta's GDPNow model has revised its estimate for the United States' second quarter GDP growth down to 3.8%. This is a reduction from the previous projection of 4.2% for the same period.

The adjustment comes as economic indicators suggest a slower pace of growth than initially anticipated. The GDPNow model, which provides a real-time estimate of the gross domestic product, reflects the evolving economic landscape with greater accuracy as new data comes in.

Economists and market watchers are closely monitoring the shift, as it may impact monetary policy decisions and investor sentiment. The revision underscores potential challenges in the broader economy, even as other data points remain robust. This update serves as a reminder of the dynamic nature of economic forecasting amid fluctuating economic conditions.