Down 0.8 pp since yesterday

Down 0.8 pp since yesterday

From the Atlanta Fed:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2021 is 8.8 percent on February 26, down from 9.6 percent on February 25. After this morning's releases from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the nowcast of first-quarter real gross private domestic investment growth decreased from 22.1 percent to 17.7 percent, while the nowcast of the contribution of the change in real net exports to first-quarter real GDP growth decreased from -0.78 percentage points to -0.84 percentage points.

We're still a long ways from the first print of this report, it will change substantially but this is a reminder that January data has been very good.