Atlanta Fed's Q1 GDPNow estimate was boosted to 1.2%
Atlanta Fed's Q1 GDPNow estimate was boosted to 1.2% from 0.4% previously, inching back closer to the Blue Chip consensus of 1.5%: "The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2019 is 1.2 percent on March 22, up from 0.4 percent on March 13. The nowcast of the contribution of inventory investment to first-quarter real GDP growth increased from -0.40 percentage points to -0.02 percentage points after this morning's wholesale trade release from the U.S. Census Bureau. After this morning's existing-home sales release from the National Association of Realtors, the nowcast of first-quarter real residential investment growth increased from -4.8 percent to 0.6 percent." The next GDPNow update is Tuesday, March 26. for more.