Atlanta Fed's GDPNow for second quarter of 2019 ticks down to 1.9%

According to the latest GDPNow report published by the Federal Reserve Bank of Atlanta, the real GDP in the U.S. is expected to expand by 1.9%.

"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2019 is 1.9 percent on June 26, down from 2.0 percent on June 18," Atlanta Fed said in its publication. 

"After this morning's Advance Economic Indicators and durable manufacturing reports from the U.S. Census Bureau, the nowcasts of the contributions of net exports and inventory investment to second-quarter real GDP growth changed from 0.00 percentage points and -1.04 percentage points, respectively, to -0.38 percentage points and -0.80 percentage points, respectively."

There was no market reaction to this publication and the US Dollar Index was posting small daily gains near 96.20.