Atlanta Fed forecasts 0.7% GDP growth in the second quarter
Against consensus forecast the Atlanta Fed projected a first quarter GDP print of only 1.2% which was less than half of the current economist consensus.
The current 1’st quarter GDP sits negative so the Atlanta Fed was spot on with their projections. Now they project a mere .7% growth for the second quarter which is actually down from their May 5’th forecast of .8%. The reason for the drop was because they see consumer spending declining from the original projection. Do you still buy the growth meme that’s being thrown around? What are your thoughts on the growth in real estate values we’re experiencing based on these numbers?