Atlanta Fed GDPNow
The Atlanta Fed GDPNow estimate for Q1 increased to 2.2% from 1.4% last. The gains are attributed to the import report along with the wholesale sales released earlier today. In their own words:
"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2023 is 2.2 percent on April 10, up from 1.5 percent on April 5. After last week's employment situation report from the US Bureau of Labor Statistics and this morning's wholesale trade report from the US Census Bureau, the nowcasts of first-quarter real personal consumption expenditures and first-quarter real gross private domestic investment growth increased from 3.4 percent and -7.8 percent, respectively, to 4.1 percent and -6.5 percent, while the nowcast of the contribution of the change in real net exports to first-quarter real GDP growth decreased from 0.29 percentage points to 0.25 percentage points."
The next report will be released on Friday, April 14
