Atlanta Fed GDPNow forecast remains unchanged in the current week

Stays at 1.8%. 

In their words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2018 is 1.8 percent on March 23, unchanged from March 16. After this morning’s advance durable manufacturing report from the U.S. Census Bureau, the nowcast of first-quarter real nonresidential equipment investment growth increased from 5.8 percent to 6.2 percent and the nowcast of the contribution of inventory investment to first-quarter real GDP growth decreased from 0.72 percentage points to 0.66 percentage points. The nowcast of first-quarter real residential investment growth increased from -3.1 percent to -1.6 percent after Wednesday’s existing-home sales release from the National Association of Realtors, but fell back to -2.4 percent after this morning’s releases on new-home sales and construction prices from the Census Bureau.

The next report will be released on March 29th.

The Atlanta’s Fed forecast runs in contrast with the NY Fed forecast which came in today at 2.85%. up from 2.73% last week.