by Calculated Risk on 3/25/2022 12:00:00 PM
Our 1Q GDP tracking estimate moved down to 1.0% qoq saar from 1.6% previously, reflecting recent weaker-than-expected housing and inventory data. 4Q 2021 GDP is likely to get revised up modestly to 7.2% qoq saar from 7.0% qoq saar in the third and final release next week. [March 25 estimate]
Following today’s data,we left our Q1 GDP tracking estimate unchanged on a rounded basis at +0.5% (qoq ar). [March 24 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 0.9 percent on March 24, down from 1.3 percent on March 17. After recent releases from the US Census Bureau and the National Association of Realtors, the nowcast of first-quarter real gross private domestic investment growth decreased from -4.2 percent to -5.8 percent. [March 24 estimate]
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