The Atlanta Fed GDPNow growth estimate for Q1 growth has risen to 2.5% from 2.1% previously. In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2024 is 2.5 percent on March 6, up from 2.1 percent on March 1. After recent releases from the US Bureau of Economic Analysis, the US Census Bureau, and the Institute for Supply Management, the nowcasts of first-quarter real personal consumption expenditures growth and first-quarter real gross private domestic investment growth increased from 2.2 percent and 1.1 percent, respectively, to 2.6 percent and 1.8 percent.
The next GDPNow update is Thursday, March 7
This article was written by Greg Michalowski at www.forexlive.com. Source