Atlanta Fed GDPNow falls below 2%
Atlanta Fed tracker
The days of +5% GDP in the first quarter are long gone. As we inch closer to first quarter GDP, the estimates continue to slide.
Today, the Atlanta Fed lowered its Q1 tracker to 1.9% from 2.0%.
Retail sales was strong, but not strong enough, the report said:
"The nowcast for first-quarter real personal consumption expenditures growth declined from 1.1 percent to 0.9 percent after this morning's retail sales release from the U.S. Census Bureau."