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Q1 GDP Forecasts: Around 1%

by Calculated Risk on 4/15/2022 10:42:00 AM

From Goldman:

Following [yesterday]’s upward revisions to retail sales, we boosted our Q1 GDP tracking estimate by 0.5pp to +1.5% (qoq ar). [April 14 estimate]
emphasis added

And from the Altanta Fed: GDPNow

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2022 is 1.1 percent on April 14, unchanged from April 8 after rounding. After recent releases from the US Census Bureau, the US Bureau of Labor Statistics, and the US Department of the Treasury’s Bureau of the Fiscal Service, modest increases in the nowcasts of real personal consumption expenditures growth and real net exports were offset by declines in the nowcasts of real government spending growth and real residential investment growth. [April 14 estimate]

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