Atlanta Fed's Q2 GDP growth expectations drops to 3.8% from 4.5%

"The final GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2018 is 3.8 percent on July 26, down from 4.5 percent on July 18," reported the Federal Reserve Bank of Atlanta.

"After this morning's advance releases on durable manufacturing, private inventories, and foreign trade in goods from the U.S. Census Bureau, the nowcasts of the contributions of inventory investment and net exports to second-quarter real GDP growth declined from 0.72 percentage points and 0.32 percentage points, respectively, to 0.58 percentage points and -0.10 percentage points."