Latest forecast: 2.4 percent — July 14, 2017
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2017 is 2.4 percent on July 14, down from 2.6 percent on July 11. The forecast of second-quarter real personal consumption expenditures growth declined from 3.1 percent to 2.9 percent after this morning’s retail sales report from the U.S. Census Bureau and this morning’s Consumer Price Index release from the U.S. Bureau of Labor Statistics.
The initial estimate back on May 1st was 4.3% and was 3% on July 3rd.
Peter is the Chief Investment Officer at Bleakley Advisory Group and is a CNBC contributor.