Q1 GDP Forecasts: 0.7% to 3.1%

From Merrill Lynch: We mark to market our 1Q GDP forecast up to 1.5% from 1.0%, while taking down 2Q GDP by 0.6pp to 1.0% and 3Q GDP 0.2pp to 1.4%, reflecting wider disruption from the COVID-19 spread. [Mar 6 estimate] emphasis added From Goldman Sachs: Based on the downward revision to January wholesale inventories and the declines in US and global trade volumes, we lowered our Q1 GDP growth forecast by two-tenths to +0.7% (qoq ar) . [Mar 6 estimate] From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 1.7% for 2020:Q1 and 1.3% for 2020:Q2 [Mar 6 estimate] And from the......(read more)

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