Atlanta Fed GDPNow -2.8% vs -1.8% prior

I have been waiting for this update in light of yesterday’s trade data and it’s not good.

It pegs Q1 GDP growth at -2.8% from -1.8%. If there’s any good news it’s that the gold adjusted model is only a -0.5% decline.

“After recent releases from the US Census Bureau and the US Bureau of
Economic Analysis, the nowcast of the contribution of net exports to
first-quarter real GDP growth declined from -3.95 percentage points to
-4.79 percentage points in the standard model and from -1.92 percentage
points to -2.53 percentage points in the alternative model”

This article was written by Adam Button at www.forexlive.com.