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Friday, May 24, 2024

Q2 GDP Tracking: 1.8% to 3.5%

by Calculated Risk on 5/24/2024 02:21:00 PM

From BofA:

2Q GDP tracking is down a tenth to 1.8% q/q saar. Also, we expect the second print of 1Q GDP to be revised down to 1.2% from 1.6%. [May 24th estimate]
emphasis added
From Goldman:
We boosted our Q2 GDP tracking estimate by 0.1pp to +3.2% (qoq ar) and our domestic final sales estimate by the same amount to +2.5%. [May 24th estimate]
And from the Altanta Fed: GDPNow
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 3.5 percent on May 24, down from 3.6 percent on May 16. After recent releases from the US Census Bureau and the National Association of Realtors, the nowcast of second-quarter real gross private domestic investment growth decreased from 5.6 percent to 5.1 percent. [May 24th estimate]