Dips to 1.37% vs 1.40% last week
This was released earlier today, but for good order, this week's NY Fed Nowcast estimate for 1Q GDP dipped marginally to 1.37% from 1.40%. Retail sales subtracted -0.05% and new single family subtracted -0.04%. On the topside, Value of constuction rose 0.04%, Durable goods new orders rose 0.03% and Export price index also added 0.03%.
The Q2 estimate was also little changed at 1.5% vs 1.51% last week (virtually unchanged).
In contrast, the Atlanta Fed GDPNow estimate is down at 0.4%. They will take some time off before their next estimate scheduled for March 22.
