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Thursday, July 27, 2017

Final 2Q Atlanta Fed GDPNow estimate 2.8% vs. 2.5% last

The Atlanta Feds final estimate for 2Q GDP before the release tomorrow by the US Commerce Department came in at 2.8% up from 2.5% last week.

In their own words:

The final GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2017 is 2.8 percent on July 27, up from 2.5 percent on July 19. The forecast of the contribution of inventory investment to second-quarter growth increased from 0.54 percentage points to 0.82 percentage points after this morning's advance reports on durable manufacturing and wholesale and retail inventories from the U.S. Census Bureau.

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