by Mike ‘Mish’ Shedlock
Today, the Atlanta Fed released it’s 2nd quarter GDPNow Estimate.
However, today’s Personal Income and Expenditures report was for March, a first quarter GDP Item. Spending was very weak.
I asked Patrick Higgins, the GDPNow creator, how today’s report would have affected the GDPNowcast for first quarter.
His answer was inconclusive …