Lower vs Friday estimate
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2018 is 2.3 percent on April 5, down from 2.8 percent on April 2. The nowcast of the contribution of inventory investment to first-quarter real GDP growth fell from 1.21 percentage points to 1.05 percentage points after yesterday's manufacturing release from the U.S. Census Bureau and yesterday's light vehicle sales release from the U.S. Bureau of Economic Analysis (BEA). The nowcast of the contribution of net exports to first-quarter growth declined from -0.65 percentage points to -0.72 percentage points after this morning's international trade release from the Census Bureau and the BEA. The nowcast of first-quarter real consumer spending growth fell from 1.6 percent on April 2 to 1.3 percent this morning.
The next report will be on April 10th (so no new estimate after the employment report tomorrow).
