GDPNow US growth tracker continues plunge: Down to -2.8% from -1.5%

Yikes.

Atlanta Fed:

After this morning’s releases from the US Census Bureau and the
Institute for Supply Management, the nowcast of first-quarter real
personal consumption expenditures growth and real private fixed
investment growth fell from 1.3 percent and 3.5 percent, respectively,
to 0.0 percent and 0.1 percent.

On Friday, it was lowered to -1.5% from +2.3%.

So that’s a 5 percentage point swing in two business days.

This article was written by Adam Button at www.forexlive.com.