US: Atlanta Fed GDPNow for Q1 rises to 2.5%

Eren Sengezer FXStreet

According to the Federal Reserve Bank of Atlanta's GDPNow model, the US economy is expected to grow at an annualized rate of 2.5% in the first quarter, up slightly from 2.4% in the previous estimate.

"After this morning’s housing starts report from the US Census Bureau, the nowcast of first-quarter real residential investment growth increased from -10.4 percent to -8.1 percent," the Atlanta Fed explained in its publication.

Market reaction

This report doesn't seem to be having a noticeable impact on risk mood. As of writing, the S&P 500 Index was down 0.75% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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