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Economy

Economic Data (USA)

Tuesday, June 09, 2020

Latest GDPNow Real Gross Domestic Product Forecast for Q2:2020

The Federal Reserve Bank of Atlanta released its latest GDPNow forecast for the growth rate of real gross domestic product (GDP) for the second quarter of 2020.

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Latest Forecast for Q2, 2020: -48.5%

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Previous Reading (June 4, 2020): -53.8%)

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Chart: GDPNow Forecast - Q2 | 2020 - June 9, 2020
Chart: GDPNow Forecast - Q2 | 2020 - June 9, 2020

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From Today's Report:

"...The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2020 is -48.5 percent on June 9, up from -53.8 percent on June 4. After last Friday’s employment release from the U.S. Bureau of Labor Statistics and this morning’s wholesale trade release from the U.S. Census Bureau, increases in the nowcasts of second-quarter real personal consumption expenditure growth and real gross private domestic investment growth were partly offset by decreases in the nowcasts of real government spending growth and real net exports.

The next GDPNow update is Tuesday, June 16, 2020..."

About The GDPNow Forecast Model:


"...GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available data for the current measured quarter. There are no subjective adjustments made to GDPNow the estimate is based solely on the mathematical results of the model. In particular, it does not capture the impact of COVID-19 beyond its impact on GDP source data and relevant economic reports that have already been released. It does not anticipate the impact of COVID-19 on forthcoming economic reports beyond the standard internal dynamics of the model..."

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