Atlanta Fed GDPNow estimate for 1Q growth dips to 2.5%


Greg Michalowski

Atlanta FedGDPNow

The Atlanta for GDPNow estimate for 1Q growth dipped to 2.5% from 3.2% last.

In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2023 is 2.5 percent on March 31, down from 3.2 percent on March 24. After recent releases from the US Census Bureau and the US Bureau of Economic Analysis, the nowcasts of first-quarter real personal consumption expenditures growth, first-quarter real gross private domestic investment growth, and first-quarter real government spending growth decreased from 5.0 percent, -7.0 percent, and 1.8 percent, respectively, to 4.6 percent, -7.3 percent, and 1.7 percent.

The next estimate will be released on April 3.

Below is the changes in the components from the inception on January 27.

Atlanta Fed GDPNow

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