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Atlanta Fed GDP Tracker Back Above 3% For Q1

US DATA
  • The Atlanta Fed GDPNow for Q1 real GDP growth has been revised up to 3.2% from 2.87% with the Feb 16 update.
  • The move has been driven by private domestic investment growth being revised up from 2.5% to 4.6%.
  • Recall, growth is currently seen to have averaged 4.1% in 2H23 (4.9% Q3, 3.3% Q4) barring any large revisions in tomorrow’s second release for Q4, after 2.15% in 1H23.
  • Notably, this latest 3.2% estimate for Q1 sees only limited contribution from changes in inventories, estimated to add just 0.2pp after the 0.1pp in Q4.

Source: Atlanta Fed

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