The Atlanta GDPNow estimate falls to 0.1% from +0.4%

Not much growth left

The Atlanta Fed updated their GDP estimate for the 1st quarter earlier today, and once again it is to the downside.  The new GDP growth estimate is 0.1% vs. 0.4% last reported on April 5.  The decline was attributed to the wholesale trade report from the US Bureau of Census. The forecast for the contribution of inventory investment to the 1st quarter to real GDP fell from -0.4% to -0.7%.

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