Atlanta Fed Leaves 1Q GDP Growth View at 0.5 Percent

The U.S. economy is growing at a 0.5 percent annualized rate in the first quarter, based on the latest monthly data on domestic payrolls and housing starts, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.

This matched the pace for the first-quarter gross domestic product that the Atlanta Fed’s GDP program calculated on Wednesday.

An increase in the nowcast of first-quarter real residential investment growth from -10.0 percent to -7.7 percent after this morning’s new residential construction release from the U.S. Census Bureau was offset by slight decreases in the nowcasts of the first-growth growth rates of real personal consumption expenditures, real private nonresidential fixed investment, and real government expenditures, after Friday morning’s employment report from the U.S. Bureau of Labor Statistics.

The next GDPNow update is Monday, March 11.