Atlanta Fed Q1 GDP Estimate Crashes To 0.4%
By Tyler Durden
Following this morning’s disappointing trade data (but… but… surveys showed that the workers in the service sector are more optimistic… just ignore the actual hard data) we asked if today’s Atlanta Fed GDP update would be above or below 0.3%.
Atlanta Fed Q1 GDP update today: over/under on 0.3%
— zerohedge (@zerohedge) April 5, 2016
Moments ago we got the answer: it was over, but by the smallest possible increment. And the answer is….
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2016 is 0.4 percent on April 5, down from 0.7 percent on April 1. After yesterday morning’s light vehicle sales release from the U.S. Bureau of Economic Analysis and the manufacturing report from the U.S. Bureau of the Census, the forecast for real GDP growth declined from 0.7 percent to 0.4 percent due to declines in the forecasts for real consumer spending growth and real equipment investment growth. The forecast for real GDP growth remained at 0.4 percent after this morning’s international trade report from the U.S. Census Bureau, as a slight decline in the forecast for real net exports was offset by a slight increase in the forecast of real equipment investment growth.
Source: Atlanta Fed Q1 GDP Estimate Crashes To 0.4%
