by Calculated Risk on 7/01/2022 03:18:00 PM
With the downward revisions to spending and weak spending data in May, we have revised down our 2Q GDP tracking by from 1.5% qoq saar to 0.0% qoq saar. [July 1 estimate]
We left our Q2 GDP tracking estimate unchanged at +1.9% (qoq ar). [July 1 estimate]
And from the Altanta Fed: GDPNow
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2022 is -2.1 percent on July 1, down from -1.0 percent on June 30. [July 1 estimate]
What's your reaction?