The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2016 is 2.5 percent on June 3, unchanged from June 1. Following this morning’s economic releases, the second-quarter forecast for real gross private domestic investment growth increased from –1.8 percent to –1.0 percent. Offsetting this increase was a decline in the forecast of the contribution of net exports to real GDP growth from 0.32 percentage points to 0.23 percentage points after this morning's international trade release from the U.S. Census Bureau.
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