Atlanta Fed's GDPNow for second quarter of 2019 ticks up to 1.2%

"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2019 is 1.2 percent on May 16, up from 1.1 percent on May 15," the Federal Reserve Bank of Atlanta reported on Thursday.

"After this morning's new residential construction release from the U.S. Census Bureau, the nowcast of second-quarter real residential investment growth increased from -5.4 percent to -3.6 percent."