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The Market Glance for July 23: Atlanta Fed Believes the U.S. GDP Grew Close to 4% in Q2

Asif Imtiaz Jul 23, 2018


Despite recent volatility in stocks, the U.S. economy seems to have done well during the second quarter of 2018, and this week, we will get to see how fast the GDP grew last quarter.

When the Federal Reserve Bank of Atlanta said the GDP in Q2 grew close to 4.8% earlier in June, most analysts were not convinced as the estimate was based on a strong pace of domestic retail sales growth in May. However, as the labor market continued to show no signs of slowing down over the last month and the housing market started to demonstrate considerable rebound in transactions, investors are catching up to the reality that Q2 GDP growth just might reach 4.0%.

In fact, the Atlanta Fed revised its Q2 GDP forecast to 3.9% a week ago and it now sounds more realistic.

To conclude, it should turn out to be a good week for investors as an accelerated economic growth coupled with some great earnings reports from corporate America can keep the bulls motivated.

Check out last week’s Market Glance here in which investors focused on a number of bank earnings from Q2’18.

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