RE: Atlanta Fed GDP Forecast Plunges Below Consensus, Growth Halved In A Month
No judgment used to adjust the forecasts.
Once the GDP Now model begins forecasting GDP growth for a particular quarter,
the code will not be adjusted until after the "advance" estimate.
If we improve the model over time,
we will roll out changes right after the "advance" estimate
so that forecasts for the subsequent quarter use a fixed methodology for their entire evolution.
Here,
These charts show how the forecasted GDP subcomponent contributions to growth aggregate up to GDPNow's real GDP growth forecast for each update day in a particular forecast quarter and how changes in the subcomponent contribution forecasts aggregate up to changes in the GDP growth forecasts. Whenever a user hovers the cursor over a bar in one of the charts, the pop-up box displays the data releases for the date of the bar as well the numerical values for the GDP growth forecast and either the levels or changes in the subcomponent contribution forecasts. For previously reported quarters, the final date in the top chart shows the official first estimates of real GDP growth and the subcomponent contributions to growth from the Bureau of Economic Analysis (BEA). The final date in the bottom chart shows the forecast errors of the final GDPNow projections of the BEA's first estimates of real GDP growth and the subcomponent contributions to growth.