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Atlanta Fed GDPNow +2.8% vs. New York Fed Nowcast +1.2%

Courtesy of Mish.

Following today’s retail sales alleged blowout, to which treasury yields actually declined, comes a big GDP upgrade by the Atlanta Fed GDPNow Model vs. a smaller jump by the New York Fed Nowcast Model.

The difference between the forecasts is now a whopping 1.6 percentage points.

Atlanta Fed GDPNow

Latest forecast: 2.8 percent — May 13, 2016

GDPNow 2016-05-13

“The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2016 is 2.8 percent on May 13, up from 2.2 percent on May 10. After this morning’s retail sales report from the U.S. Census Bureau, the forecast for second-quarter real consumer spending growth increased from 3.0 percent to 3.7 percent.”

New York Fed Nowcast

Nowcast 2016-05-13


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