Economic Buzz: Atlanta Fed cuts its first quarter US economic growth estimate to 2.9%

The Atlanta Fed continues to cut its first quarter US economic growth estimate. The GDPNow model estimate for real GDP growth in the first quarter was trimmed to 2.9% from to 3.9% forecast on February 3. After recent releases from the Institute for Supply Management, the US Bureau of Economic Analysis, and the US Census Bureau, the nowcasts of first-quarter real personal consumption expenditures growth and real gross private domestic investment growth decreased from 4.1% and 6.5%, respectively, to 3% and 5.2%.

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