May 15, 2024 16:43 GMT
GDPNow Trimmed To A Little Under 4% On Retail Sales Hit
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- The Atlanta Fed’s GDPNow has been revised down to 3.77% from 4.18% with the May 8 update.
- Revisions from May 8: real consumption lowered from 3.9% to 3.2%, slightly offset by real gross private domestic investment increasing from 6.8% to 7.3%.
- Today’s retail sales has been the major driver, with the personal consumption cut from 2.68pp to 2.20pp on the release.
Source: Atlanta Fed
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