Closely watched atlanta fed gdp tracker now foresees 3. 8% u. S. Economic growth in april-through-june quarter
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The Federal Reserve Bank of Atlanta's tool for predicting the rate of U.S. economic growth was boosted to 3.8% for the second quarter from a prior estimate of 2.2% growth, reflecting
the near-halving in April of the U.S. trade deficit in goods. Economists were cautious about the deficit data, saying imports could pick up given the recent easing of trade tensions. In
addition, companies may draw down inventories in May and June, which could subtract from the second-quarter growth rate.