Atlanta Fed GDPNow 0.2% vs 0.5% prior

The latest from the Atlanta Fed’s GDP model
Latest forecast: 0.2 percent – April 27, 2017
The final GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2017 is on April 27, down from 0.5 percent on April 18. The forecast of first-quarter real consumer spending growth fell from 0.3 percent to 0.1 percent after yesterday’s annual retail trade revision by the U.S. Census Bureau. The forecast of the contribution of inventory investment to first-quarter growth declined from -0.76 percentage points to -1.11 percentage points after this morning’s advance reports on durable manufacturing and wholesale and retail inventories from the Census Bureau. The forecast of real equipment investment growth increased from 5.5 percent to 6.6 percent after the durable manufacturing report and the incorporation of previously published data on light truck sales to businesses from the U.S. Bureau of Economic Analysis.

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