The erosion continues. Down from 1.4% on March 24th
The Atlanta Fed GDP forecast for the 1Q is down to +0.6% from 1.4% (last reported on March 24). The forecast was lower on the back of the personal income and outlays release from the US Bureau of economic analysis. The 1Q real consumer spending growth fell from 2.5% to 1.8%. . In addition, the forecast for the contribution of net exports so decline from -0.26% to -0.52%.