The first quarter is on track for negative GDP growth, Atlanta Fed indicator says

Schwartzreport · one year ago · 114 views

Jeff Cox,  Economics Editor  -  CNBCStephan: And so criminal Trump's self-created recession begins. All you Trump voters, I hope you enjoy it, you chose it. A customer shops for produce at an H-E-B grocery store on Feb. 12, 2025 in Austin, Texas.Credit: Brandon Bell | Getty The Atlanta Fed’s GDPNow tracker of incoming data is indicating that gross domestic product is on pace to shrink by 1.5% for the first quarter. While the tracker is volatile through the quarter and typically becomes more reliable much later in the quarter, it does coincide with some other indicators showing a growth slowdown. Early economic data for the first quarter of 2025 is pointing towards negative growth, according to a Federal Reserve Bank of Atlanta measure. The central bank’s GDPNow tracker of incoming metrics is indicating that gross domestic product is on pace to shrink by 1.5% for the January-through-March period, according to an update posted Friday morning. Fresh indicators showed that consumers spent less than expected during the inclement January weather and exports were weak, which led to the downgrade. Prior to Friday’s consumer spending report, GDPNow had been indicating growth of 2.3% for the quarter. While the tracker is volatile and typically becomes a more reliable measure [...]