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The Atlanta Fed GDPNow development estimate for Q1 rose to 2.9% from 2.8% yesterday (their most up-to-date report). In their very own phrases:
The GDPNow mannequin estimate for actual GDP development (seasonally adjusted annual price) within the first quarter of 2024 is 2.9 % on April 16, up from 2.8 % on April 15. After this morning’s housing begins report from the US Census Bureau and industrial manufacturing report from the Federal Reserve Board of Governors, the nowcasts of first-quarter actual private consumption expenditures development and first-quarter actual gross non-public home funding development elevated from 3.4 % and three.4 %, respectively, to three.5 % and three.7 %.
The following Atlanta Fed GDPNow replace might be on April 24 which would be the final estimate earlier than the Superior launch of Q1 GDP within the US.
This text was written by Greg Michalowski at www.forexlive.com.
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