Atlanta Fed GDP now estimate for 1Q GDP growth
The Atlanta Fed is out with its latest GDP estimate for the 1st quarter. They now see the growth rate at 2.6% versus 2.7% released just yesterday.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2020 is 2.6 percent on February 28, down from 2.7 percent on February 27. After this morning's Advance Economic Indicators report from the U.S. Census Bureau and personal income and outlays release from the U.S. Bureau of Economic Analysis, the nowcast of first-quarter real business fixed investment growth decreased from 2.6 percent to 0.1 percent and the nowcast of the contribution of change in real net exports to first-quarter real GDP growth increased from -0.23 percentage points to -0.02 percentage points.
The next estimate will be on March 2
