Atlanta Fed GDP tracker tumbles
The Atlanta Fed lowered its GDPNow forecast for the second quarter to 1.8% from 2.3%.
"After the U.S. Census Bureau’s inaugural release of its advance economic indicators report, which covers retail and wholesale inventories and foreign trade in goods, the nowcast of the contribution of net exports to second-quarter real GDP growth declined from 0.17 percentage points to -0.10 percentage points and the nowcast of the contribution of inventory investment to growth declined from -0.63 percentage points to -0.79 percentage points."
