New York Fed’s GDP Nowcast Model Sees U.S.
1Q GDP at 0.88%
as a result of big declines in Personal Consumption, Housing Starts, Wholesale Inventories, and others.
[after Thursday's (2/28) print: Q4
GDP 2.6%, vs. expected 2.2%]
Goldman launched its Q1 GDP tracking estimate at +0.9%. This forecast, as Goldman's chief economist Hatzius said, "reflects an expected drag from inventories, sequentially slower consumption growth, a decline in residential investment, and a four-tenths drag from the government shutdown."