Down 0.8 pp since yesterday
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2021 is 8.8 percent on
February 26, down from 9.6 percent on February 25. After this morning’s
releases from the U.S. Bureau of Economic Analysis and the U.S. Census
Bureau, the nowcast of first-quarter real gross private domestic
investment growth decreased from 22.1 percent to 17.7 percent, 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.
We’re still a long ways from the first print of this report, it will change substantially but this is a reminder that January data has been very good.
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