US: Atlanta Fed GDPNow for Q1 rises to 2.1%

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In accordance with the Federal Reserve Financial institution of Atlanta’s GDPNow mannequin, the US financial system is predicted to develop at an annualized fee of two.1% within the first quarter, up from 0.7% within the earlier estimate.

“After releases from the US Census Bureau, the Institute for Provide Administration, the US Bureau of Labor Statistics, and the US Bureau of Financial Evaluation, the nowcasts of first-quarter gross private consumption expenditures development, and first-quarter gross non-public home funding development elevated from 1.9% and -9.3%, respectively, to three.0% and -6.2%, respectively,” Atlanta Fed defined in its publication.

Market response

This report does not appear to be having a noticeable influence on the US Greenback’s efficiency towards its rivals. As of writing, the US Greenback Index was posting small every day positive factors at 103.67.