Don’t Tell Trump, But The Atlanta Fed Just Slashed Q2 GDP
by Tyler Durden
ZeroHedge.com
Fri, 06/29/2018
Just two days after Donald Trump Jr slammed “the experts” and crowed of expectations for a 4.5% Q2 GDP print, The Atlanta Fed took an ax to its forecast this morning following disappointing spending data…
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 3.8 percent on June 29, down from 4.5 percent on June 27. The nowcast of second-quarter real personal consumption expenditures growth declined from 3.7 percent to 2.7 percent after this morning’s personal income and outlays report from the U.S. Bureau of Economic Analysis.
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