Atlanta Fed cuts second-quarter US GDP estimate

Bostic says “orderly slowdown” could be positive news

Atlanta Fed

The Federal Reserve Bank of Atlanta revised downward its real-time estimate of second-quarter US GDP growth from 2.7% on May 31 to 1.8% on June 3.

The Atlanta Fed says its GDPNow index “provides a ‘nowcast’ of the official estimate prior to its release by estimating GDP growth using a methodology similar to the one used by the US Bureau of Economic Analysis”. The Atlanta Fed also moved its estimates for real personal consumption expenditures growth and real private fixed investment growth

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