Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- The Atlanta Fed’s GDPNow for Q2 has been revised down again for the second day running, to 2.25% from the 2.7% with yesterday’s update and 3.0% from Jun 20.
- It’s one of the lowest for the Q2 vintage.
- The main driver for the latest move came from real consumption being cut from 2.5 to 1.8%, whilst real gross private domestic investment was also revised down from 8.8% to 8.7%.
- It leaves GDP growth set for a more limited acceleration from the 1.4% seen with Thursday’s revisions for Q1.
- Consumption is still seen to accelerate on the quarter after the 1.0pp contribution in Q1, but the 1.25pp is revised down from 1.7pp in yesterday’s forecast.
- Changes in inventories still play a large role in the estimated quarterly acceleration, shifting from -0.4pp in Q1 to an assumed +0.8pp.
- The next update will follow on Monday after ISM manufacturing and construction spending.
Source: Atlanta Fed
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok