GDP Forecast Continues To Drop -- 2Q17 To 3% -- GDP Now-- June 9, 2017

Latest forecast: 3.0 percent — June 9, 2017

The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2017 is 3.0 percent on June 9, down from 3.4 percent on June 2. 

The forecast for second-quarter real GDP growth fell from 3.4 percent to 3.1 percent on June 5 after the U.S. Census Bureau's manufacturing report and the incorporation of motor vehicle sales estimates released by the U.S. Bureau of Economic Analysis on the prior business day.

The forecast of the contribution of inventory investment to second-quarter growth declined from 0.87 percentage points to 0.77 percentage points after this morning's wholesale trade report from the Census Bureau.