Atlanta Fed’s GDP nowcast… – Commodity Research Group

May 3, 2019 by Jim Colburn Leave a Comment

The Atlanta Fed bumped up its “nowcast” for 2Q GDP by 0.5 percentage point after today’s economic data… The Fed’s tool is probably better as a measure to understand the impact of new data on the change in GDP estimates, rather than the absolute level of GDP…

“The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2019 is 1.7 percent on May 3, up from 1.2 percent on May 1. After this morning’s Advance Economic Indicators release from the U.S. Census Bureau, and this morning’s employment report from the U.S. Bureau of Labor Statistics, the nowcast of the contribution of inventory investment to second-quarter real GDP growth increased from -1.52 percentage points to -1.02 percentage points.”

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

Our associates bring decades of experience to the table, as they seek to help our clients understand the markets. CRG will distill the myriad of pricing variables mentioned above into coherent research that is to-the-point and tailored to a clients hedging or pricing needs. In addition, CRG is available for consulting assignments and speaking engagements. CRG does not manage money or trade for itself.

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