Credit: Lower on the weaker Durable goods report today
The Atlanta GDP estimate for 1st quarter was lowered to 1.4% vs. 1.9%, last on 16 March. The weaker GDP data today, and home data from earlier this week, prompted the revision lower.
According to the Atlanta Fed:
"After this morning's durable goods manufacturer report from the US Census Bureau, the forecast for 1st quarter real equipment investment growth declined from +0.9% to -1.4%, while the forecast for the change in inventory investment in $2009 decline from -9 billion to -11 billion."
In addition they added:
"The forecast for real residential investment growth fell from 14.6% to 7.8% after Monday's existing home sales release from the National Association of Realtors and yesterday's new home sales and construction cost releases from the Census Bureau"
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
