Atlanta Fed’s GDPNow for second quarter of 2019 jumps to 2.1% on upbeat sales data

“The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2019 is  2.1% on June 14, up from 1.4% on June 7,” the Federal Reserve Bank of Atlanta reported on Friday.  

“After this morning’s retail sales release from the U.S. Census Bureau, and this morning’s industrial production report from the Federal Reserve Board of Governors, the nowcast of second-quarter real personal consumption expenditures growth increased from 3.2% to 3.9%.”