Latest forecast: 1.8 percent — July 28, 2016
The final GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2016 is 1.8 percent on July 28, down from 2.3 percent on July 27. After the U.S. Census Bureau’s inaugural release of its advance economic indicators report, which covers retail and wholesale inventories and foreign trade in goods, the nowcast of the contribution of net exports to second-quarter real GDP growth declined from 0.17 percentage points to –0.10 percentage points and the nowcast of the contribution of inventory investment to growth declined from –0.63 percentage points to –0.79 percentage points.
The next GDPNow update will occur shortly after the U.S. Bureau of Economic Analysis’s (BEA) release of the “Underlying Detail” tables after the annual update of the National Income and Product Accounts. According to the BEA’s website, the updated tables will be released between August 2 and August 5.
