{"id":272486,"date":"2025-03-17T20:09:54","date_gmt":"2025-03-17T20:09:54","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2025\/03\/17\/q1-gdpnow-at-2-1-accounting-for-gold-imports-guesstimate-0-1\/"},"modified":"2025-06-25T17:09:08","modified_gmt":"2025-06-25T17:09:08","slug":"q1-gdpnow-at-2-1-accounting-for-gold-imports-guesstimate-0-1","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2025\/03\/17\/q1-gdpnow-at-2-1-accounting-for-gold-imports-guesstimate-0-1\/","title":{"rendered":"Q1 GDPNow at -2.1%; accounting for gold imports guesstimate, -0.1%"},"content":{"rendered":"

[ad_1]
\n<\/p>\n

\n\t\t\t\t<\/p>\n
\n

That\u2019s from today\u2019s GDPNow release (Calculation: As of the 7 March release, the reported GDPNow was -1.6%, while adjusted was +0.4%; a 2 ppts difference). Here\u2019s the implied GDP levels.<\/p>\n

\"\"<\/a><\/p>\n

Figure 1:<\/strong> GDP (black), GDPNow (red triangle), GDPNow adjusted for gold imports, using Atlanta Fed adjustment for March 7 applied to March 17 (pink square), NY Fed (blue square), Goldman Sachs (inverted green triangle), Survey of Professional Forecasters (light blue), all in billion Ch.2017$ SAAR. Source: BEA,\u00a0Atlanta Fed<\/a>, Philadelphia Fed, NY Fed, Goldman Sachs and authors calculations.<\/em><\/p>\n

The 0.5 ppts downward move in the GDPNow since March 13th is due to the retail sales release, wherein m\/m retail sales came in at +0.2% vs Bloomberg consensus +0.6%.<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n<\/p><\/div>\n

<\/p>\n