Latest estimate for GDP is amoung the lowest ever : -46.6 percent — June 25, 2020
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2020 is -46.6 percent on June 25, down from -45.5 percent on June 17. After this week’s data releases from the U.S. Census Bureau, the U.S. Bureau of Economic Analysis, and the National Association of Realtors, a decrease in the nowcast of second-quarter real residential investment growth from -25.9 percent to -35.9 percent was offset by an increase in the nowcast of real business fixed investment growth from -31.1 percent to -28.2 percent, while the nowcast of the contribution of the change in net exports to second-quarter real GDP growth decreased from 0.30 percentage points to -1.27 percentage points. Nick Note: read it and weep. So when they want to blow recovery blue sky up your ass see what he Atlanta Fed has to say about the matter. You should know this report is a KEY data point used by the Fed Reserve open market committee. And i can tell you when the governors saw these numbers they puked as in lost their cookies!