Atlanta Fed's GDPNow for second quarter of 2019 rises to 1.3%

"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2019 is 1.3% on June 3, up from 1.2% on May 31," the Federal Reserve Bank of Atlanta said on Monday.

"A decline in the nowcast of second-quarter real nonresidential structures investment growth from -0.9 percent to -6.9 percent after this morning’s construction spending report from the U.S. Census Bureau was more than offset by increases in the nowcasts of second-quarter real residential investment growth and second-quarter real government expenditures growth from -1.6 percent and 0.7 percent, respectively, to -0.3 percent and 2.0 percent, respectively, after the same report."