Tags: atlanta | fed | gdp | economic | view | forecast

Atlanta Fed Lowers Second-Quarter GDP View to 2.4 Percent

Image: Atlanta Fed Lowers Second-Quarter GDP View to 2.4 Percent
Yong-hian-Lim/Dreamstime

Sunday, 16 Jul 2017 02:54 PM

The U.S. economy is expanding at a 2.4 percent annualized pace in the second quarter based on unexpectedly weak data on retail sales and consumer prices in June, the Atlanta Federal Reserve's GDP Now forecast model showed.

The latest second-quarter GDP estimate was lower than the previous figure of 2.6 percent calculated on Tuesday, the Atlanta Fed said Friday.

Friday's figure was the Atlanta Fed model's lowest yet for U.S. gross domestic product in the second quarter. Its initial reading was 4.3 percent on May 1.

The Atlanta Fed's latest GDP outlook for the second quarter was below the latest median forecast of 3.0 percent among analysts in a Reuters polled published on June 9.

Meanwhile, the New York Fed downgraded its second-quarter GDP growth estimate to 1.90 percent from 1.96 percent a week earlier.

The government is scheduled to release its first estimate on second-quarter GDP on July 28 at 8:30 a.m. (1230 GMT).

© 2017 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
Economy
The U.S. economy is expanding at a 2.4 percent annualized pace in the second quarter based on unexpectedly weak data on retail sales and consumer prices in June, the Atlanta Federal Reserve's GDP Now forecast model showed.The latest second-quarter GDP estimate was lower...
atlanta, fed, gdp, economic, view, forecast
155
2017-54-16
Sunday, 16 Jul 2017 02:54 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved