Atlanta Fed: Forecast for GDP growth in Q2 of 2017 eased to 2.7%

"The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2017 is 2.7 percent on July 6, down from 3.0 percent on July 3," said the Federal Reserve Banks of Atlanta on Thursday. 

Key quotes:

• The forecast of second-quarter real GDP growth fell 0.4 percentage points to 2.6 percent after yesterday morning's auto sales release and manufacturing report from the U.S. Bureau of Economic Analysis and U.S. Census Bureau, respectively.
• The forecast of second-quarter real nonresidential equipment investment growth increased from 3.4 percent to 4.9 percent after this morning's international trade release from the Census Bureau and the Bureau of Economic Analysis.