Courtesy of Mish.
The Atlanta Fed GDPNow forecast for second quarter GDP and the New York Fed Nowcast staff report both ticked up 0.1 percentage points following today’s economic releases.
Latest forecast: 2.4 percent – July 15, 2016
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2016 is 2.4 percent on July 15, up from 2.3 percent on July 12. The forecast for second-quarter real consumer spending growth increased from 4.3 percent to 4.5 percent after this morning’s retail sales release from the U.S. Census Bureau and this morning’s Consumer Price Index release from the U.S. Bureau of Labor Statistics.
FRBNY Staff Nowcast – July 15, 2016
- The FRBNY Staff Nowcast stands at 2.2% and 2.6% for 2016:Q2 and 2016:Q3, respectively.
- This week’s news had positive effect on the nowcast pushing up the Q2 measure by 0.1 percentage point and the Q3 measure by 0.3
percentage point. - The largest contributions came from manufacturing data, in particular capacity utilization and industrial production.
Nowcast 2016 Q2
Nowcast 2016 Q2 Detail
