Up from 2.2% yesterday...
The Atlanta Fed numbers crunchers are at it again. Yesterday they guesstimated GDP to be 2.2%. Today the "guess" - well forecast - is 2.4%.
In their own words:
"The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2017 is 2.4 percent on February 16, up from 2.2 percent on February 15. After this morning's new residential construction release from the U.S. Census Bureau, the forecast for first-quarter real residential investment growth increased from 3.9 percent to 7.8 percent."
The estimates will now slow down with the next GDPNow update scheduled for Monday, February 27.
