Final Atlanta Fed GDPNow Q1 estimate -2.7% vs -2.4% prior

The US GDP report is due out tomorrow and the consensus is -0.3% however I believe the market shifted to a worse quantity in mild of the poor commerce steadiness knowledge launched at the moment.

“After this morning’s Advance Financial Indicators launch from the US
Census Bureau, the usual and various mannequin nowcasts of the
contribution of web exports to first-quarter actual GDP progress declined
from -4.90 share factors and -2.85 share factors, respectively,
to -5.26 share factors and -4.05 share factors,” the Atlanta Fed writes.

For tomorrow’s GDP report, the market is extra prone to concentrate on closing
gross sales to home purchasers within the GDP report as it should look by way of a few of the commerce turmoil.