The GDPNow model estimate below now 2%

After a series of data disappointments, the estimate for US 1Q GDP growth from the Atlanta Fed has dropped below the 2% mark, now reading 1.9% from 2.5% on Friday. 

The GDPNow model estimate:

"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2018 is 1.9 percent on March 14, down from 2.5 percent on March 9. After yesterday's Consumer Price Index release from the U.S. Bureau of Labor Statistics and this morning's retail sales report from the U.S. Census Bureau, the nowcast of first-quarter real personal consumption expenditures growth fell from 2.2 percent to 1.4 percent."

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