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Friday, February 23, 2024

GDP Tracking: Q1 Boosted Slightly

by Calculated Risk on 2/23/2024 11:43:00 AM

From BofA:

On net, this week’s data boosted our 1Q US GDP tracking estimate by a tenth to 1.0% q/q saar. Our 4Q tracking estimate also increased by a tenth to 3.2% q/q saar [Feb 23rd estimate]
emphasis added
From Goldman:
We boosted our Q1 GDP tracking estimate by 0.1pp to +2.4% (qoq ar) and our Q1 domestic final sales growth forecast by 0.1pp to +2.7% (qoq ar). [Feb 22nd estimate]
And from the Altanta Fed: GDPNow
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2024 is 2.9 percent on February 16, unchanged from February 15. [Feb 16th estimate] (next release will be on Feb 27th)