US: Atlanta Fed s GDPNow edges higher to 9.3% for Q2 after latest US dataNEWS |
5/28/2021 2:46:17 PM GMT | By Eren Sengezer
The real gross domestic product (GDP) in the United States is expected to grow by 9.3%, up from 9.1% on May 27, in the second quarter of 2021, the Federal Reserve Bank of Atlanta s latest GDPNow report showed on Friday. After this morning’s releases from the US Bureau of Economic Analysis and the US Census Bureau, the nowcast of second-quarter real gross private domestic investment growth decreased from 25.1% to 20.7%, while the nowcast of the contribution of the change in real net exports to second-quarter real GDP growth increased from -1.68 percentage points to -0.90 percentage points, the Atlanta Fed explained in its publication.
The White House will release a $6 trillion budget plan amid complaints from the GOP about wasteful spending and ruinous debt, but their guy also added to the national debt big-time.
New Inflationary Data Released before the Holiday Weekend May 28, 2021
As investors prepare for the long weekend, an important gauge for inflation was released by the Commerce Department Friday, revealing a faster-than-expected 3.1% rise in April. Such broadening pressures may have investors wondering about rising prices.
The core personal consumption expenditures index was projected to increase 2.9% after climbing 1.9% in March. Federal Reserve officials rely heavily on the number as a gauge for inflation, although they monitor a number of other metrics as well.
The Fed has been targeting 2% inflation as a healthy level, though it is prepared to allow the level average higher than usual in order to promote full employment.