Thursday, April 26, 2018

Friday: Q1 GDP

by Bill McBride on 4/26/2018 07:11:00 PM

A few GDP forecasts:

From Merrill Lynch:

[T]he data added 0.2pp to 1Q GDP tracking, bringing it up to 1.9% qoq saar heading into tomorrow's advance release. [April 26 estimate].
emphasis added
And from the Altanta Fed: GDPNow
The final GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2018 is 2.0 percent on April 26, unchanged from April 17.[April 17 estimate]
From the NY Fed Nowcasting Report
The New York Fed Staff Nowcast stands at 2.9% for 2018:Q1 and 3.0% for 2018:Q2. [April 20 estimate]
Friday:
• At 8:30 AM ET, Gross Domestic Product, 1st quarter 2018 (Advance estimate). The consensus is that real GDP increased 2.0% annualized in Q1, down from 2.9% in Q4.

• At 10:00 AM, University of Michigan's Consumer sentiment index (Final for April). The consensus is for a reading of 98.0, up from 97.8.