March 07, 2023 17:33 GMT
Atlanta Fed GDPNow Trimmed A Little Further For Q1
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- The Atlanta Fed GDPNow for Q1 is revised down from 2.3% to 2.0% annualized, one of the lowest readings for the current vintage.
- It takes into account the ISM surveys (overall services stronger than expected but still marginally weaker on the month), nonfarm productivity, factory orders and wholesale data amongst others.
- Despite recent downward revisions to personal consumption, it follows a solid bounce for GDP in 2H22 with an average 3.0% annualized after the -1.1% in 1H22.