Atlanta Fed GDPNow model for Q1 growth dips to 3.4% from 4.2%

The Atlanta Fed GDPNow model for Q1 growth is dipped to 3.4% from 4.2% last given recent economic data.

In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2024 is 3.4 percent on February 7, down from 4.2 percent on February 1. After recent releases from the US Bureau of Economic Analysis, the US Census Bureau, the US Bureau of Labor Statistics, and the Institute for Supply Management, the nowcast of first-quarter gross personal consumption expenditures growth decreased from 4.9 percent to 3.3 percent, while the nowcast of first-quarter gross private domestic investment growth increased from 1.7 percent to 3.2 percent.

The next GDPNow update is Thursday, February 8.