by Calculated Risk on 3/18/2022 02:05:00 PM
This week’s data-retail sales, industrial production, and import & export prices- on balance lifted our 1Q GDP tracking estimate by 0.6ppt to 1.6% qoq saar. [March 18 estimate]
Following today’s data, we left our Q1 GDP tracking estimate unchanged at +0.5% (qoq ar). [March 18 estimate]
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 1.3 percent on March 17, up from 1.2 percent on March 16. After this morning’s releases from the US Census Bureau and the Federal Reserve Board of Governors, the nowcast of first-quarter real gross private domestic investment growth increased from -4.9 percent to -4.2 percent. [March 17 estimate]
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