US: Atlanta Fed's GDPNow declines to 4.5% for Q1 after latest US data

The real gross domestic product (GDP) in the United States is expected to grow by 4.5%, down from 4.6% on February 10, in the first quarter of 2021, the Federal Reserve Bank of Atlanta's latest GDPNow report showed on Friday.

"After this morning’s releases of the wholesale trade report from the US Census Bureau and the Consumer Price Index report from the US Bureau of Labor Statistics, the nowcast of first-quarter real gross private domestic investment growth decreased from 18.2% to 17.4%," the Atlanta Fed explained in its publication.

Market reaction

The US Dollar Index showed no reaction to this report and was last seen losing 0.1% on the day at 90.35.