Wow, 2Q18 GDP Estimate Remains At 4.1% -- May 17, 2018

Latest forecast: 4.1 percent — May 16, 2018:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 4.1 percent on May 16, unchanged from May 15.

An increase in the nowcast of second-quarter real private fixed investment growth from 5.2 percent to 5.9 percent after this morning's new residential construction release from the U.S. Census Bureau and this morning's industrial production release from the Federal Reserve Board of Governors was largely offset by a decrease in the nowcast of the contribution of inventory investment to second-quarter real GDP growth from 0.81 percentage points to 0.72 percentage points.