The first quarter is on track for negative GDP growth, Atlanta Fed indicator says
1. Economic data indicates potential GDP shrinkage of 1.5% for Q1 2025. 2. Consumer spending fell 0.2% in January, missing growth expectations. 3. Net exports contribution significantly downgraded to -3.7 percentage points. 4. Increasing likelihood of multiple Federal Reserve interest rate cuts this year. 5. Labor market shows concern with rising initial unemployment claims.