TechFlow, May 30 — According to Jinshi Data, the Atlanta Fed's GDPNow model now projects a 3.8% growth rate for U.S. GDP in the second quarter, up from its previous estimate of 2.2%. Following recent data releases from the U.S. Census Bureau and the Bureau of Economic Analysis, the Atlanta Fed's GDPNow model shows a sharp increase in the nowcast of net exports' contribution to real GDP growth in Q2, jumping from -0.64% to 1.45%. However, the nowcasts for real personal consumption expenditures growth and real gross private domestic investment growth in Q2 have declined, falling from 3.7% to 3.3% and from -0.2% to -1.4%, respectively.
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