Atlanta Fed estimates 52.8% GDP contraction this quarterChristian Fernsby ▼ | June 2, 2020
The Federal Reserve Bank of Atlanta estimates the nation's economy will contract 52.8% in the current quarter.
GDP Federal Reserve Bank of Atlanta
The Fed also considered the Census Bureau's recent construction report, which showed spending dropping 2.9% in April.
Second-quarter personal consumption expenditure growth slipped to -58.1% from -56.5%, the central bank said. Private domestic investment growth declined to -62.6% from -61.5%. ■