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Q1 GDPNow Nudges Higher Despite Housing Starts Miss

US DATA
  • The Atlanta Fed GDPNow for Q1 was revised up marginally from 2.4% to 2.5% after today’s data, the highest in its limited history for Q1 estimates and above Blue Chip consensus.
  • Interestingly, despite housing starts/building permits coming in weaker than analysts had expected in January (starts -4.5% vs -2.0% expected) and with downward revisions, “After this morning’s housing starts report from the US Census Bureau, the nowcast of first-quarter real residential investment growth increased from -10.4 percent to -8.1 percent. the nowcast of first-quarter real residential investment growth increased from -10.4 percent to -8.1 percent.”


Source: Atlanta Fed

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