GAUGING GROWTH
06/05/2024 |
Estimates of 24Q2 GDP growth are quickly sinking as more data becomes available. The Atlanta Fed is now expecting quarterly seasonally adjusted annualized growth of 1.8%, down from 4.2% in mid-May. Similarly, the NY Fed now also sees growth at 1.8%, down from 2.75% in late April, and the St. Louis Fed sees just 1.2% growth, down from 1.4% last week. Averaging all three gets to 1.6%, economic stall speed.