The Atlanta Federal Reserve's GDPNow model has revised its estimate for the United States' real GDP growth in the second quarter of 2025 multiple times. Initially, the estimate was 3.4% in mid-June but was lowered to 2.9% by June 27 following recent US Census data. In early July, the estimate fluctuated between 2.5% and 2.6%, before settling at 2.6% on July 9. However, by mid-July, the forecast was further reduced to 2.4%, where it remained unchanged through July 18. The model indicated that negative contributions to growth came primarily from inventory changes and residential investment, while consumption and net exports contributed positively. Separately, the New York Federal Reserve's GDP Nowcast for Q2 2025 also showed a downward revision, declining from 1.9% to 1.7%. Overall, these revisions reflect a more moderate growth outlook for the US economy in the second quarter of 2025.