The Atlanta Federal Reserve's GDPNow model has boosted its economic growth forecast for the second quarter of 2024. According to the most recent data updated on July 10, 2024, the GDP growth estimate has risen to 2.0%, up from a previous projection of 1.5%.
The updated forecast reflects increased optimism surrounding the economic activities and performance in the United States throughout the second quarter. This upward revision is a positive signal for investors and policymakers, indicating a stronger-than-expected expansion in economic output.
This change in forecast marks a significant turn in economic expectations and could influence market strategies and fiscal policies moving forward. With the previous indicator pegged at 1.5%, the new estimate at 2.0% highlights a noteworthy improvement in economic momentum. The next updates from the Atlanta Fed’s GDPNow model will be closely watched for further insights into the economic trajectory of the country.
