Atlanta Fed Lifts Q1 GDP Estimate To 3.9%

(RTTNews) - The Atlanta Fed raised the estimate for first quarter U.S. economic growth on Monday after the release of recent economic data.

The GDPNow model estimate for real GDP growth in the first quarter was raised to 3.9 percent from 2.9 percent on January 31.

"After recent releases from the Institute for Supply Management and the US Census Bureau, the nowcasts of first-quarter real personal consumption expenditures growth and real gross private domestic investment growth increased from 3.0 percent and 4.8 percent, respectively, to 4.1 percent and 6.5 percent," the Atlanta Fed said.

The next GDPNow update is scheduled for February 5.