February 14, 2025 at 04:23PM
Atlanta Fed GDPNow growth estimate for Q1 was lowered to 2.3% from 2.9% last. The retail sales today contributed to the decline. They also cite US employment data in the Federal Reserve Board of Governors.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2025 is 2.3 percent on February 14, down from 2.9 percent on February 7. After recent releases from the US Census Bureau, the US Bureau of Labor Statistics, and the Federal Reserve Board of Governors, the nowcasts of first-quarter real personal consumption expenditures growth and real gross private domestic investment growth fell from 2.8 percent and 6.2 percent, respectively, to 2.3 percent and 4.9 percent.
The next report will be released on Wednesday, February 19
This article was written by Greg Michalowski at www.forexlive.com.
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