The Atlanta Federal Reserve's GDPNow model has forecasted a 2.7% growth in real GDP for Q1 2024, a decrease from the previous estimate of 2.9% as of April 24. This revision comes ahead of the official GDP report due on Thursday, where Goldman Sachs predicts a higher growth rate of 3.1%, surpassing the Wall Street consensus estimate of 2.5%. The adjustment in the GDPNow model was influenced by recent data from the US Census Bureau and the National Association of Realtors. The upcoming GDP report is highly anticipated as it follows a robust 4.1% growth in the latter half of the previous year and is expected to reflect ongoing economic expansion despite challenges such as rising inflation and geopolitical tensions.
Initial data on US gross domestic product for the first quarter of 2024 is set to confirm an ongoing economic boom amid a tailwind from surging immigration https://t.co/LZ3t0sHh3j
Initial data on US gross domestic product for the first quarter of 2024 is set to confirm an ongoing economic boom amid a tailwind from surging immigration https://t.co/rtO5RVamfP
⚠️ SLOW, BUT SOLID US ECONOMIC GROWTH ANTICIPATED IN Q1; INFLATION LIKELY HEATS UP Full Story → https://t.co/Uv9GMXDr9s https://t.co/SUKXmq5ptm
The initial estimate of Real GDP for the first quarter of 2024 will be reported tomorrow. The @AtlantaFed #GDPNow forecast shows 2.7%. Source: https://t.co/DOVqoPBW4O #gdp #economy https://t.co/uZmvosUGKC
Tomorrow we will receive the first GDP reading for 2024: It also happens to mark the most volatile quarter in over a year with inflation on the rise and geopolitical tensions worsening. Prediction markets currently expect 2.7% GDP growth to be reported, according to @Kalshi.… https://t.co/m8zhYZbYZ1
Thursday March 25th GDP to be 2.7% and Friday March 26 PCE 0.4% and PCE year over year 3.1%
Tomorrow we get Q1 2024 GDP and I will be speaking with @tomkeene & the @BloombergRadio team about the data at 9:00am EST. The monthly data suggest some softness in industrial production and real manufacturing and trade sales. We forecast 2.5% SAAR vs 3.2% inQ4 2023. #Softlanding https://t.co/IjXmJF18qD
The last Atlanta Fed GDPnow was released today. 2.7% from 2.9%. Street consensus is 2.5%. Q1 GDP out tomorrow morning. https://t.co/8IDMlomBPX
This last Atlanta Fed GDPnow was released today. 2.7% from 2.9%. Street consensus is 2.5%. Q1 GDP out tomorrow morning. https://t.co/LbISjRTe8o
GDP report Thursday expected to show economy still growing at a solid pace https://t.co/sPRyEIbYwe
🇺🇸 United States Atlanta Fed GDPNow (Q1) $USD Actual: 2.7% 🔴 Expected: 2.9% Previous: 2.9%
This is the last Atlanta Fed GDPNow tracking forecast before the BEA report Thursday: Atlanta Fed is estimating growth for the first quarter at 2.7%; Wall Street consensus is 2.5%. Atlanta Fed has often -- but not always -- gotten closer to actual report than Wall Street. https://t.co/MMWhceU1vS
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2024 is 2.7% on April 24, down from 2.9% on April 16. After recent releases from the US Census Bureau and the National Association of Realtors, the nowcasts of first-quarter… https://t.co/waJij8OEyy
US Atlanta Fed GDPNow Q1: 2.7% (prev 2.9%) https://t.co/xWeRUTFL3V
On April 24, the #GDPNow model nowcast of real GDP growth in Q1 2024 is 2.7%: https://t.co/T7FoDdgYos #ATLFedResearch Download our EconomyNow app or go to our website for the latest GDPNow nowcast: https://t.co/NOSwMl7Jms https://t.co/Nn3IfNc8ZC
GOLDMAN SACHS: "We forecast +3.1% annualized GDP growth in Thursday’s report, 0.6pp above consensus and 0.2pp above the Atlanta Fed GDPNow model but a slowdown from the 4.1% pace in the second half of last year."