Q1 GDP Crashes To 0.6%: Latest Atlanta Fed Estimate
Earlier today we said that following the abysmal January spending data revision as shown in the chart below:
... that "the Atlanta Fed will have no choice but to revise its Q1 "nowcast" to 1.0% or even lower, which would make the first quarter the lowest quarter since the "polar vortex" impacted Q1 of 2015, and the third worst GDP quarter since Q4 2012. It means one-third of already low Q1 GDP growth has just been wiped away."
It was "even lower."