Atlanta Fed GDPNow estimate for Q1
The Atlanta Fed GDPNow estimate for 1Q growth fell to 3.0% from 3.2% on February 27. In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2024 is 3.0 percent on February 29, down from 3.2 percent on February 27. After recent releases from the US Census Bureau and the US Bureau of Economic Analysis, a decrease in the nowcast of first-quarter real gross private domestic investment growth from 4.6 percent to 3.0 percent was slightly offset by an increase in the nowcast of first-quarter real personal consumption expenditures growth from 2.7 percent to 3.0 percent, while the nowcast of the contribution of the change in real net exports to first-quarter real GDP growth decreased from 0.20 percentage points to -0.01 percentage points.
The next GDPNow update is Friday, March 1.