The Federal Reserve Bank of Atlanta just slashed its forecast to call for a decline in first-quarter gross domestic product.
The Atlanta Fed’s GDPNow estimate forecasts a 1.5% decline in GDP, down from a Feb. 19 estimate calling for 2.3% growth.
The latest forecast, which is a running estimate of real GDP growth based on available economic data for the current quarter, was lowered following numbers from the Bureau of Economic Analysis and the U.S. Census Bureau.
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