Q1 GDP Now Just 1.2% According To Atlanta Fed; Rate Hike Imminent
by Tyler Durden
ZeroHedge.com
Mar 8, 2017
Another day, another downgrade to US GDP: after yesterday the Atlanta Fed slashed its Q1 GDPNow estimate from 1.8% to 1.3% – with the forecast as high as 3% at the start of the year, and 2.5% as recently as the end of February – moments ago the Atlanta Fed has once again cut its US growth forecast, and now sees Q1 GDP of just 1.2%, on par with the disappointing 0.9% and 0.8% prints in Q4 2015 and Q1 2016.
The reason, according to the model’s author, “the GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2017 is 1.2 percent on March 8, down from 1.3 percent on March 7. The forecast of the contribution of inventory investment to first-quarter growth fell from -0.72 percentage points to -0.79 percentage points after this morning’s wholesale trade report from the U.S. Census Bureau.”
The Rest…HERE
