Atlanta Fed's GDPNow for second quarter of 2019 drops to 1.3% from 1.5%

According to the latest GDPNow report published by the Federal Reserve Bank of Atlanta, following today's macroeconomic data releases, the real GDP in the U.S. is expected to expand by 1.3% in the second quarter.

"After this morning’s international trade release from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, and this morning’s manufacturing report from the Census Bureau, the nowcasts of the contributions of net exports and inventory investment to second-quarter real GDP growth decreased from -0.42 percentage points and -0.92 percentage points, respectively, to -0.55 percentage points and -1.02 percentage points, respectively," the bank explained in its publication.