Atlanta Fed: GDPNow model forecast for real GDP growth in Q2 is 2.8%

"The final GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2017 is 2.8 percent on July 27, up from 2.5 percent on July 19," the Federal Reserve Bank of Atlanta said on Thursday. 

Key quote:

• The forecast of the contribution of inventory investment to second-quarter growth increased from 0.54 percentage points to 0.82 percentage points after this morning's advance reports on durable manufacturing and wholesale and retail inventories from the U.S. Census Bureau.