The people who nailed the horrific Q1 GDP number have bad news about Q2

30-Apr (BusinessInsider) — The Atlanta Fed nailed US Gross Domestic Product in the first quarter.

On Wednesday, we learned that the US economy grew by just 0.2%, far below the consensus forecast for 1% growth among economists. Of the 86 economists surveyed by Bloomberg, only four estimated that GDP growth would be 0.2% or lower.

The Atlanta Fed had long forecast 0.2% growth before revising it down to 0.1% after last Friday’s durable goods report.

And just a day after the disappointing Q1 GDP release, the Atlanta Fed has news about Q2: the economy will grow by just 0.9%, according to their latest forecast.

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