Atlanta Fed GDPNow Model Revises Q1 Growth Estimate to 3.0%
Thursday, 29 February 2024, 15:08
Atlanta Fed GDPNow Q1 Growth Update
The Atlanta Fed GDPNow estimate for 1Q growth fell to 3.0% from 3.2% on February 27. The recent adjustments were driven by changes in real gross private domestic investment and real personal consumption expenditures.
Key Highlights:
- The nowcast of first-quarter real gross private domestic investment growth decreased from 4.6% to 3.0%.
- The nowcast of first-quarter real personal consumption expenditures growth increased from 2.7% to 3.0%.
- The contribution of the change in real net exports to first-quarter real GDP growth decreased.
The next GDPNow update is scheduled for Friday, March 1.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.