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Atlanta Fed GDPNow Cut On Fading Consumption

US DATA

The Atlanta Fed GDPNow was revised down from 2.2% to 1.8% for Q2 after today's data deluge. It's one of its lowest figures for the current Q2 vintage.

  • Real personal consumption expenditures revised down from 1.4% to 0.9%.
  • Real government spending revised down from 2.7% to 2.3%.
  • The former marks an increasingly large pullback for private consumption after surging 3.8% annualized in Q1.

Source: Bloomberg

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