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On the radar: GDP Nowcasts for second quarter into jaw-dropping double-digit declines

The three District Bank Nowcasts for GDP can vary a lot from each other, especially early in the quarter. They also aren’t the best forecast for the BEA number as they are not inclusive of later data. However, after this morning’s April Employment Situation, the outlook is consistently and jaw-droppingly downward. St. Louis Fed is at -40.42%; Atlanta Fed at -34.90%; New York Fed at -31.20%. The average of the three is at -35.51%.

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