US on track to grow 2.1% in second quarter: Atlanta Fed
[NEW YORK] The US economy is on track to expand 2.1 per cent in the second quarter in the wake of the government's final first-quarter reading on gross domestic product, and consumer spending and income in May, Atlanta Federal Reserve's GDPNow forecast model showed on Thursday.
This was a tad stronger than the regional Fed's prior estimate on Tuesday of a 2.0 per cent rise.
The latest data helped boost the model's forecast on real consumption in the second quarter to 3.0 per cent from 2.9 per cent, the Atlanta Fed said on its website.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Oil prices steady after Iran plays down reported Israeli attack
G7 pledges swift aid for Ukraine, seeks to calm Middle East
H5N1 strain of bird flu found in milk: WHO
China moves to boost foreign investment in domestic tech companies
Xi orders China’s biggest military reorganisation since 2015
Warner Bros CEO earned US$49.7 million in strike-impacted year