Atlanta Fed GDPNow forecast for 1Q GDP expansion falls to one.1%.
Atlanta Fed GDPNow fall sharply forward of GDP the next day
The Atlanta Fed GDPNow estimate for 1Q GDP expansion fell to one.1% from their ultimate estimate of two.5% from April 18:
In their very own phrases:
The GDPNow style estimate for actual GDP expansion (seasonally adjusted annual charge) within the first quarter of 2023 is 1.1 % on April 26, down from 2.5 % on April 18. After contemporary releases the United States Census Bureau and the United States Nationwide Affiliation of Realtors, the nowcasts of first-quarter actual non-public intake expenditures expansion and first-quarter actual gross non-public home funding expansion diminished from 4.2 % and -5.8 %, respectively, to two.7 % and -8.0 %, whilst the nowcast of the contribution of the trade in actual web exports to first-quarter actual GDP expansion higher from 0.26 share issues to 0.30 share issues.
This is relatively a transfer to the disadvantage forward of the discharge on Thursday (the next day) at 8:30 AM ET. The expectancies from economist estimates are for two.0%.
