Atlanta Fed and Goldman Sachs tracking models move in opposite directions
The third reading on Q1 US GDP is due tomorrow but Q2 is more of a concern now for markets. The latest tracking estimate from the Atlanta Fed was raised to 2.0% from 1.9%. They said the move was "following yesterday morning's existing-home sales report from the National Association of Realtors and this morning's reports on sales and prices of new single-family homes from the U.S. Census Bureau."
Meanwhile, Goldman's forecast is much higher but it was lowered to 2.9% from 3.1% after today's durable goods order report showed lower-than-expected inventory accumulation.
