Wall Street and Atlanta Federal Reserve don’t agree on GDP

The latest report from the Atlanta Federal Reserve has the GDP going up by an annual growth rate of 2.6 percent in the first quarter of 2020. That’s better than the previous report of 2.4 percent growth.

Strange that the Atlanta Fed is raising GDP estimates at the same time that Wall Street firms are lowering them.

The Atlanta Fed’s reasoning for the jump to 2.6 percent growth is a good producer price index and better than expected growth in new residential construction.

It’ll be fun to watch how that number changes as the virus affects trade imbalances.

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