Atlanta Fed Was Closer to the Mark on Second-Quarter GDP: ChartBy
Traders who ignored the Federal Reserve Bank of Atlanta’s GDPNow second-quarter forecast for the U.S. economy can only blame themselves. The regional bank lowered its outlook for gross domestic product Thursday -- to 1.8 percent growth at an annualized rate -- after receiving an inaugural batch of data from the Census Bureau. GDP today came in at a 1.2 percent rate for the quarter, trailing the median estimate of economists, who had called for a 2.5 percent pace.
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