US: Atlanta Fed's GDPNow declines to 8.8% for Q1 after latest US data
|The real gross domestic product (GDP) in the United States is expected to grow by 8.8%, down from 9.6% on February 25, in the first quarter of 2021, the Federal Reserve Bank of Atlanta's latest GDPNow report showed on Friday.
"After this morning’s releases from the US Bureau of Economic Analysis and the US Census Bureau, the nowcast of first-quarter real gross private domestic investment growth decreased from 22.1% to 17.7%, while the nowcast of the contribution of the change in real net exports to first-quarter real GDP growth decreased from -0.78 percentage points to -0.84 percentage points," Atlanta Fed explained in its publication.
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen gaining 0.67% on a daily basis at 90.74.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.