Atlanta Fed Slashes Q1 GDP Estimate To Only 0.1%
After today's latest atrocious wholesale inventory and sales data, we predicted that this may be the straw that tips Q1 GDP into contraction, or at best keeps it unchanged, per the Atlanta Fed.
Atlanta Fed should be at 0.0% for Q1 GDP after this
— zerohedge (@zerohedge) April 8, 2016
We were wrong. Moments ago the Fed with the highly-tracked GDP estimator, slashed its Q1 GDP estimate... to 0.1%. As a reminder, this number was as high as 2.7% precisely two months ago.