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Latest estimate: -34.3 percent — July 27, 2020

The GDPNow model estimate for real GDP growth (seasonally adjusted annual ratę) in the second quarter of 2020 is -34.3 percent on July 27, up from -34.7 percent on July 17. After recent data releases by the National Association of Realtors and the U.S. Census Bureau, the nowcast of second-quarter real gross private domestic investment growth increased from -54.9 percent to -53.0 percent.

The next GDPNow update is Wednesday, July 29. Please see the ^r'Release Dates" tab below for a list of upcoming releases.

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GDPNow

Evolutk>n of Atlanta Fed GDPNow real GDP estimate for 2020: Q2

Quarterly percent change (SAAR)

-5

-55 i    i-1    i    i    i    i    i    i    i    i

25-Mar    6-Apr    18-Apr    30-Apr    12-May    24-May    5-Jun    17-Jun    29-Jun    11-Jul    23-Jul

Datę of forecast

Sources Blue Chip Economic Indicators and Blue Chip Financial Forecasts

Notę: The top (bottom) 10 average forecast is an average of the highest (lowest) 10 forecasts in the Blue Chip survey.

GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available data for the current measured quarter. There are no subjective adjustments madę to GDPNow—the estimate is based solely on the mathematical results of the model.

In particular, it does not capture the impact of COVID-19 beyond its impact on GDP source data and relevant economic reports that have already been released. It does not anticipate the impact of C0VID-19 on forthcoming economic reports beyond the standard interna! dynamics of the model.