Atlanta Fed cuts forecast for Q1 U.S. GDP growth to 2.5%

Economy Feb 25, 2016 11:17AM ET

© Reuters. Atlanta Fed reduces growth estimate due to consumer spending data Investing.com – The Federal Reserve Bank of Atlanta cut its forecast for growth in the first quarter of 2016 for the U.S. economy on Thursdaydue to a lower estimate for consumer spending. The Atlanta Fed announced that its so-called GDPNow model forecast for real GDP growth in for the first three months of 2016 was reduced to 2.5%, from the prior estimate of 2.6% released on February 17. The forecast for first-quarter real consumer spending growth decreased from 3.3 percent to 3.1 percent on February 19 following the release of the Consumer Price Index from the U.S. Bureau of Labor Statistics, the Atlanta Fed explained in a statement.

Atlanta Fed cuts forecast for Q1 U.S. GDP growth to 2.5%

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