Atlanta GDPNow Model is going to Start Getting a lot More Attention

While yesterday’s first quarter GDP reported growth of just 0.2% was a disappointment, it was also a rather big surprise to many forecasters – except one.  As the chart below shows, the Atlanta GDPNow model had the number completely nailed while the rest of the consensus forecasts missed by a wide margin.  Somewhat concerning is the model’s newly released estimate for Q2 – just 0.9% versus a consensus of a rebound back to about 3.3% growth.  Something to keep an eye on.

For more information on how the model works and to view the latest update, click here.