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The Atlanta Fed's GDPNow model expects U.S. GDP growth of 3.8% in the second quarter, compared to 2.2% previously. The Atlanta Fed's GDPNow model's instant projection of the contribution of net exports to real GDP growth in the second quarter jumped from -0.64% to 1.45% following recent data released by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. However, the immediate forecasts for real personal consumption expenditure growth in Q2 and real gross domestic private investment growth in Q2 declined, falling to 3.3% and -1.4% from 3.7% and -0.2%, respectively.

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