Atlanta Fed GDPNow est for 1Q growth rises to 2.5% from 2.4%
The Atlanta Fed GDPNow estimate for 1Q growth has moved up to 2.5% from 2.4% previously. The gain came on the back of the housing starts when increased first-quarter real residential investment to -8.1% from -10.4% previous.
In their own words:
"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2023 is 2.5 percent on February 16, up from February 15. After this morning’s housing starts report from the US Census Bureau, the nowcast of first-quarter real residential investment growth increased from -10.4 percent to -8.1 percent."
The next estimate will be on Friday, February 24.