The 2Q estimate for GDP
The Atlanta Fed GDPNo tracker for 2Q GDP growth comes in at 2.9% vs 3.1% on March 6th.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2020 is 2.9 percent on March 17, down from 3.1 percent on March 6. Following this week’s and last week’s data releases by the U.S. Bureau of Labor Statistics, the Federal Reserve Board of Governors, and the U.S. Census Bureau, a decrease in the nowcast of first-quarter real personal consumption expenditures growth from 2.4 percent to 2.2 percent was partly offset by an increase in the nowcast of first-quarter real gross private domestic investment growth from 6.1 percent to 6.3 percent.
The next estimate will be tomorrow