by Mike ‘Mish’ Shedlock
Mish Talk
The latest GDPNow forecast of 0.6% first quarter GDP was nearly spot on. The BEA’s Advance Estimate of first quarter GDP came in at 0.5%.
Deceleration is the word of the day.
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.