by Doug Short
The Advance Estimate for Q1 GDP, to one decimal, came in at 0.5 percent, down from the 1.4 percent in Q4 of 2015. Today’s number was worse than most mainstream estimates, with Investing.com forecasting 0.7 percent and the Briefing.com consensus at 0.9 percent. The latest Atlanta Fed GDPNow forecast (on April 27) was 0.6 percent.
Here is an excerpt from the Bureau of Economic Analysis news release:
Real gross domestic product—the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production, adjusted for price changes—increased at an annual rate of 0.5 percent in the first quarter of 2016, according to the “advance” estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 1.4 percent.