Atlanta Fed’s GDP estimate takes a nosedive
Bank projects more severe contraction in Q1, while analysts point to possible recession
The Federal Reserve Bank of Atlanta has revised its projections for US GDP in recent days, and forecast an even greater contraction in Q1 than it had previously estimated.
The most recent estimate from the Atlanta Fed’s GDPNow tool, on March 3, is that GDP in this quarter will contract by -2.8%. This is considerably lower than its projection on February 28 of -1.5% negative growth. The bank’s previous projections, starting from the end of January, had all been positive, including a prediction on
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