Up after the inventory data today
The Atlanta Fed GDPNow forecast for 2Q GDP growth moved to 4.6% from 4.5% last.
In their words today:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is4.6 percenton June 8, up from 4.5 percent on June 6. After this morning's wholesale trade release from the U.S. Census Bureau, the nowcast of the contribution of inventory investment to second-quarter real GDP growth increased from 0.99 percentage points to 1.06 percentage points.
The estimate runs in contrast to the NY Feds Nowcast forecast which fell to 3.08% from 3.26% last week.
