Top Stories
Top Stories
Market Insider

First-quarter economy looks bleaker by the day

VIDEO2:4602:46
Santelli Exchange: Averaging up lower growth
VIDEO4:4204:42
UBS: It's going to get worse...
VIDEO1:1801:18
Economists reduce Q1 GDP forecasts

Some economists now see first-quarter growth as negligible, and it could easily turn out to be negative.

Economists shaved already weak growth forecasts by a few more tenths Friday, after wholesale inventories fell 0.5 percent month over month in February, much more than the anticipated 0.1 percent decline. January was also revised down by 0.4 percent.

The closely watched Atlanta Fed GDPNow model now shows first-quarter growth tracking at 0.1 percent, compared to a 0.4 percent estimate earlier in the week. JPMorgan economists now forecast the economy only expanded by 0.2 percent in the first quarter, from 0.7 percent.