The US Q1 GDP report is scheduled to be released Friday morning. Current expectations call for a Q/Q growth rate of 1.1%, but there are wide disparities in nowcasts. The Atlanta Fed GDPNow nowcast of Q1 GDP growth has been declining since late February and stands at a meager 0.5%.
By contrast, the New York Fed's nowcast has been relatively steady, with an estimate of 2.7%.
What's going on? Who is right? The evolution of GDP growth in 2017 will have a large impact on Fed policy.
The full post can be found at our new site here.
MBA: Mortgage Applications Increase in Latest Weekly Survey
38 minutes ago