Atlanta Fed GDPNow Estimate for Q1 Growth Rate Adjustment
Thursday, 4 April 2024, 14:14
Atlanta Fed GDPNow Q1 Growth Rate Revision
The Atlanta Fed has revised its GDPNow estimate for the first quarter growth rate down to +2.5% from +2.8%. The adjustment was driven by a larger trade drag in Q1, as seen in the recent data release.
Trade will be a larger drag in Q1: 'After this morning’s international release from the US Census Bureau and the US Bureau of Economic Analysis, the nowcast of the contribution of net exports to annualized first-quarter real GDP growth decreased from -0.48 percentage points to -0.57 percentage points.'
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