Atlanta Fed GDPNow Q1 forecast boosted to 1.71% from 1.53%

Author: Adam Button | Category: News

First quarter growth looking a bit better

"A decrease in the nowcast of first-quarter real personal consumption expenditures growth from 0.9 percent to 0.5 percent after this morning's personal income and outlays release from the U.S. Bureau of Economic Analysis was more than offset by increases in the nowcasts of real nonresidential equipment investment growth, real residential investment growth, and the contribution of inventory investment to first-quarter real GDP growth," the Atlanta Fed said.

The Atlanta Fed model has been tracking higher since it started at +0.3% on March 1.

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