JPMorgan lowers Q1 growth forecast to +0.4%

The GDP report is due Friday

Estimates continue to fall for first quarter US growth.

The latest downward revision came from JPMorgan economists as they lowered their estimate to +0.4% from +0.6% after annual revisions to retail sales today. That would be the worst since Q1 2014.

"Before the revision, the Census Bureau had reported that nominal retail sales increased 4.0% saar in the first quarter and that sales in the important control group rose 4.1% saar. But the updated figures now show retail sales growth of only 3.7% saar in 1Q with control sales up 3.0% saar."

The current consensus for Friday"s report is 1.0% with estimates ranging from +0.2% to +2.2%.

JPMorgan lowers Q1 growth forecast to +0.4%
JPMorgan lowers Q1 growth forecast to +0.4%
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