US Economy’s First Quarter Growth Expected to Shrink by 2.8%, Atlanta Fed Says
The US economy is facing a shaky start in the first quarter, with the latest forecast suggesting an annualized decline of 2.8%. This prediction comes after the US economy grew at a 2.3% annualized rate in the fourth quarter. The Atlanta Fed’s GDPNow report has been updated to reflect this new assessment.
President Donald Trump’s allies are already pushing back against the news, trying to move the goalposts and downplay the significance of the forecast. However, it is clear that the economy is facing a slowdown, and investors should be cautious about the implications for growth and markets.
The latest forecast is likely to raise concerns among economists and market participants, who will be watching closely to see how the US economy responds to this development. As the situation develops, it remains to be seen what impact the GDP forecast will have on the broader economic landscape.
Source: https://www.marketwatch.com/story/musk-and-lutnick-want-to-measure-the-economy-minus-government-its-already-done-and-makes-little-difference-bf4270f4