The Atlanta Fed’s GDP tracking model now shows US growth of only 1.3% for the first quarter of this year, down from 1.8% on March 1. The drop comes after disappointing figures from Thursday’s motor vehicle sales release from the US Bureau of Economic Analysis and yesterday’s manufacturing report from the US Census Bureau.
Source: Atlanta Fed
Atlanta Fed GDP growth forecast for Q1 drops to 1.3%
The drop is far below consensus range from just several days ago.