The Atlanta Fed's latest model estimates a 52.8% GDP contraction this quarter as the US grapples with COVID-19

The Atlanta Fed's latest model estimates a 52.8% GDP contraction this quarter as the US grapples with COVID-19

Business Insider

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· *A rolling GDP "nowcast" from the Federal Reserve Bank of Atlanta sees US growth shrinking 52.8% on the coronavirus' economic fallout.*
· *The estimate is down from a May 29 projection of -51.9% growth and takes new data from the manufacturing and construction industries into account.*
· *Fed chair Jerome Powell said in a...

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