GDPNow was spot on again. First quarter GDP was revised up to 2%.
There's a bit of a divergence between GDP and GDI these days. First quarter GDI was -1.8%. GDP and GDI in theory should be identical, but there are measurement differences. The truth is likely somewhere in the middle.
Other economic indicators have been healthy, so no signs we are in a recession at present.
The Fed raised interest rates again this month. Though there is likely only at most one more 25 basis point hike left this year before the Fed pauses.