US: Atlanta Fed's GDPNow rises to 6% for Q1 after latest data

The real gross domestic product (GDP) in the United States is expected to grow by 6%, up from 5.2% on January 29, in the first quarter of 2021, the Federal Reserve Bank of Atlanta's latest GDPNow report showed on Monday.

 "After this morning's Manufacturing ISM Report On Business from the Institute for Supply Management and the construction spending report from the US Census Bureau, the nowcasts of first-quarter real personal consumption expenditures growth and first-quarter real gross private domestic investment growth increased from 1% and 21.7%, respectively, to 2.2% and 22.2%, respectively," Atlanta Fed explained in its publication.

Market reaction

The US Dollar Index largely ignored this report and was last seen gaining 0.45% on the day at 91.00.