Atlanta Fed GDPNow estimate for Q1 -2.4% vs -2.8% on March 3

The Atlanta Fed GDPNow estimate for Q1 rises to -2.4% from -2.8% on March 3.

Since the last report on March 3, Auto sales contributed to a gain to -2.3% from -2.8%. The ISM services index did not move the needle, bu the trade report and wholesale trade was a modest negative taking the estimate to -2.4%.

In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2025 is -2.4 percent on March 6, up from -2.8 percent on March 3. After recent releases from the Institute for Supply Management, the US Bureau of Economic Analysis, and the US Census Bureau, the nowcasts of first-quarter real personal consumption expenditures growth and real gross private domestic investment growth increased from 0.0 percent and 2.5 percent, respectively, to 0.4 percent and 4.8 percent, while the nowcast of the contribution of net exports to first-quarter real GDP growth fell from -3.57 percentage points to -3.84 percentage points.

This article was written by Greg Michalowski at www.forexlive.com.