US GDP Nowcast for 2025 Q1


A simple nowcaster based on a large range of monthly indicator models for each GDP expenditure component that combines them by weighting them based on their out-of-sample forecast performance. Nowcast expressed at an annualized rate. Does not reflect the views of any individual or institution.

Date Updates GDP Nowcast Consumption Non-Res. Investment Res. Investment Inventories ($bn) Government Exports Imports
0 2025-02-04 -0.2 3.4 0.4 4.3 2.8 1.6 -4.7 18.8
1 2025-02-05 Real goods exports, Services Exports 0.2 3.4 0.4 4.3 2.8 1.6 -0.5 18.8
2 2025-02-05 Real goods Imports, Services Imports 1.1 3.4 0.4 4.3 2.8 1.6 -0.5 11.9
3 2025-02-07 Services hours 0.7 2.8 0.4 4.3 2.8 1.6 -0.5 11.9
4 2025-02-07 Gov. payroll 0.8 2.8 0.4 4.3 2.8 2.0 -0.5 11.9
5 2025-02-10 Vehicle sales 0.4 2.2 0.4 4.3 2.8 2.0 -0.5 11.9
6 2025-02-10 Vehicle sales 0.2 2.2 -0.5 4.3 2.8 2.0 -0.5 11.9
7 2025-02-13 Control retail sales 0.2 2.2 -0.5 4.3 2.8 2.0 -0.5 11.9
8 2025-02-13 Services Exports 0.2 2.2 -0.5 4.3 2.8 2.0 -0.5 11.9
9 2025-02-13 Services Imports 0.2 2.2 -0.5 4.3 2.8 2.0 -0.5 11.9
10 2025-02-13 Control retail sales 0.2 2.2 -0.5 4.3 2.8 2.0 -0.5 11.9
11 2025-02-13 Durable goods ship., Capital goods ord., Capital goods shipments, Non-residential construction 0.2 2.2 -0.6 4.3 2.8 2.0 -0.5 11.9
12 2025-02-13 Services Exports 0.2 2.2 -0.6 4.3 2.8 2.0 -0.5 11.9
13 2025-02-13 Services Imports 0.2 2.2 -0.6 4.3 2.8 2.0 -0.5 11.9
14 2025-02-13 Net outlays, Public construction 0.2 2.2 -0.6 4.3 2.8 2.0 -0.5 11.9
15 2025-02-13 Advance inventories 0.3 2.2 -0.6 4.3 8.1 2.0 -0.5 11.9
16 2025-02-14 Control retail sales 0.0 1.7 -0.6 4.3 8.1 2.0 -0.5 11.9
17 2025-02-14 Real goods exports -0.0 1.7 -0.6 4.3 8.1 2.0 -0.8 11.9
18 2025-02-14 Real goods Imports 0.0 1.7 -0.6 4.3 8.1 2.0 -0.8 11.8
19 2025-02-14 IP 0.3 1.7 1.8 4.3 8.1 2.0 -0.8 11.8
20 2025-02-14 Total Bus. Inventories, Advance inventories 0.2 1.7 1.8 4.3 -0.3 2.0 -0.8 11.8
21 2025-02-19 Housing starts, Housing permits 0.3 1.7 1.8 7.8 -0.3 2.0 -0.8 11.8
22 2025-02-26 Housing permits 0.3 1.7 1.8 7.5 -0.3 2.0 -0.8 11.8
23 2025-02-26 Houses sold , Res. construction spending 0.3 1.7 1.8 7.0 -0.3 2.0 -0.8 11.8
24 2025-02-28 GDP revision 0.2 1.7 1.8 7.0 -0.3 2.0 -0.8 11.8
25 2025-02-28 M. PCE, Consumption 0.4 2.1 1.8 7.0 -0.3 2.0 -0.8 11.8
26 2025-02-28 Res Invesment 0.4 2.1 1.8 7.0 -0.3 2.0 -0.8 11.8
27 2025-02-28 Durable goods ship., Capital goods ord., Capital goods shipments, Non-res Invesment 0.4 2.1 1.3 7.0 -0.3 2.0 -0.8 11.8
28 2025-02-28 Real goods exports, Services Exports, Exports 0.0 2.1 1.3 7.0 -0.3 2.0 -3.9 11.8
29 2025-02-28 Real goods Imports, Services Imports, Imports -6.8 2.1 1.3 7.0 -0.3 2.0 -3.9 77.5
30 2025-02-28 Government -6.8 2.1 1.3 7.0 -0.3 2.0 -3.9 77.5
31 2025-02-28 Total Bus. Inventories, Advance inventories, Inventories -6.8 2.1 1.3 7.0 -0.1 2.0 -3.9 77.5
32 2025-02-28 Vehicle sales -6.8 2.1 1.3 7.0 -0.1 2.0 -3.9 77.5
33 2025-02-28 Vehicle sales -6.8 2.1 1.3 7.0 -0.1 2.0 -3.9 77.5
34 2025-02-28 Nonfarm real IVA adjusted -7.0 2.1 1.3 7.0 -9.9 2.0 -3.9 77.5
35 2025-03-04 Res. construction spending -7.2 2.1 1.3 0.5 -9.9 2.0 -3.9 77.5
36 2025-03-04 Durable goods ship., Capital goods ord., Capital goods shipments, Non-residential construction -7.2 2.1 1.3 0.5 -9.9 2.0 -3.9 77.5
37 2025-03-04 Public construction -7.4 2.1 1.3 0.5 -9.9 1.0 -3.9 77.5
38 2025-03-05 Durable goods ship., Capital goods ord., Capital goods shipments -7.4 2.1 1.3 0.5 -9.9 1.0 -3.9 77.5
39 2025-03-05 Total Bus. Inventories, Advance inventories -6.9 2.1 1.3 0.5 21.6 1.0 -3.9 77.5
40 2025-03-06 Real goods exports, Services Exports -6.6 2.1 1.3 0.5 21.6 1.0 -1.7 77.5
41 2025-03-06 Real goods Imports, Services Imports -4.6 2.1 1.3 0.5 21.6 1.0 -1.7 55.0
42 2025-03-08 Vehicle sales, Services hours -4.6 2.1 1.3 0.5 21.6 1.0 -1.7 55.0
43 2025-03-08 Housing starts, Housing permits, Houses sold, Res. construction spending -4.4 2.1 1.3 6.8 21.6 1.0 -1.7 55.0
44 2025-03-08 different series used -4.4 2.1 0.9 6.8 21.6 1.0 -1.7 55.0
45 2025-03-08 Gov. payroll -4.4 2.1 0.9 6.8 21.6 1.0 -1.7 55.0
46 2025-03-08 Real goods Imports, Services Imports, Imports -0.7 2.1 0.9 6.8 21.6 1.0 -1.7 20.7
47 2025-03-18 Control retail sales -1.2 1.4 0.9 6.8 21.6 1.0 -1.7 20.7
48 2025-03-18 Capital goods ord., Capital goods shipments, Non-residential construction -1.2 1.4 0.9 6.8 21.6 1.0 -1.7 20.7
49 2025-03-18 Net outlays, Public construction -1.1 1.4 0.9 6.8 21.6 1.6 -1.7 20.7
50 2025-03-18 Total Bus. Inventories, Advance inventories -0.9 1.4 0.9 6.8 30.6 1.6 -1.7 20.7
51 2025-03-18 Housing starts, Housing permits, Res. construction spending -0.9 1.4 0.9 6.9 30.6 1.6 -1.7 20.7
52 2025-03-18 Real goods Imports -0.9 1.4 0.9 6.9 30.6 1.6 -1.7 20.8
53 2025-03-18 IP -0.3 1.4 5.2 6.9 30.6 1.6 -1.7 20.8
54 2025-03-25 Housing permits -0.3 1.4 5.2 6.9 30.6 1.6 -1.7 20.8
55 2025-03-25 Houses sold, Res. construction spending -0.5 1.4 5.2 3.1 30.6 1.6 -1.7 20.8
56 2025-03-26 Capital goods ord., Capital goods shipments -1.0 1.4 1.5 3.1 30.6 1.6 -1.7 20.8
57 2025-03-28 GDP revision -0.9 1.4 1.5 3.1 30.6 1.6 -1.7 20.8
58 2025-03-28 M. PCE, Consumption -1.0 1.3 1.5 3.1 30.6 1.6 -1.7 20.8
59 2025-03-28 Res Invesment -1.0 1.3 1.5 3.1 30.6 1.6 -1.7 20.8
60 2025-03-28 Non-res Invesment -1.0 1.3 1.6 3.1 30.6 1.6 -1.7 20.8
61 2025-03-28 Real goods exports, Exports -0.7 1.3 1.6 3.1 30.6 1.6 1.3 20.8
62 2025-03-28 Real goods Imports, Imports -5.5 1.3 1.6 3.1 30.6 1.6 1.3 66.9
63 2025-03-28 Government -5.5 1.3 1.6 3.1 30.6 1.7 1.3 66.9
64 2025-03-28 Total Bus. Inventories, Advance inventories, Inventories -6.1 1.3 1.6 3.1 -8.7 1.7 1.3 66.9
65 2025-03-28 Nonfarm real IVA adjusted -5.6 1.3 1.6 3.1 21.4 1.7 1.3 66.9
66 2025-03-28 Vehicle sales -5.6 1.3 1.6 3.1 21.4 1.7 1.3 66.9
67 2025-03-28 Vehicle sales -5.6 1.3 1.6 3.1 21.4 1.7 1.3 66.9
68 2025-04-02 Res. construction spending -5.7 1.3 1.6 0.8 21.4 1.7 1.3 66.9
69 2025-04-02 Non-residential construction -5.7 1.3 1.6 0.8 21.4 1.7 1.3 66.9
70 2025-04-02 Public construction -5.8 1.3 1.6 0.8 21.4 1.2 1.3 66.9
71 2025-04-02 Capital goods ord., Capital goods shipments -5.8 1.3 1.6 0.8 21.4 1.2 1.3 66.9
72 2025-04-02 Total Bus. Inventories, Advance inventories -5.9 1.3 1.6 0.8 14.8 1.2 1.3 66.9
73 2025-04-03 Real goods exports, Services Exports -5.9 1.3 1.6 0.8 14.8 1.2 1.7 66.9
74 2025-04-03 Real goods Imports, Services Imports -3.8 1.3 1.6 0.8 14.8 1.2 1.7 45.0
75 2025-04-03 Real goods Imports -2.0 1.3 1.6 0.8 14.8 1.2 1.7 28.7
76 2025-04-04 Services hours -2.0 1.3 1.6 0.8 14.8 1.2 1.7 28.7
77 2025-04-04 Services hours -2.0 1.3 1.6 0.8 14.8 1.2 1.7 28.7
78 2025-04-04 Gov. payroll -2.0 1.3 1.6 0.8 14.8 1.2 1.7 28.7
79 2025-04-07 Vehicle sales -2.0 1.3 1.6 0.8 14.8 1.2 1.7 28.7
80 2025-04-07 Vehicle sales -2.0 1.3 1.6 0.8 14.8 1.2 1.7 28.7
81 2025-04-11 Capital goods ord., Capital goods shipments, Non-residential construction -2.0 1.3 1.5 0.8 14.8 1.2 1.7 28.7
82 2025-04-11 Net outlays, Public construction -2.0 1.3 1.5 0.8 14.8 1.4 1.7 28.7
83 2025-04-11 Advance inventories -1.9 1.3 1.5 0.8 21.4 1.4 1.7 28.7
84 2025-04-15 Real goods exports -1.9 1.3 1.5 0.8 21.4 1.4 1.1 28.7
85 2025-04-15 Real goods Imports -2.1 1.3 1.5 0.8 21.4 1.4 1.1 29.8
86 2025-04-16 Control retail sales -2.5 0.7 1.5 0.8 21.4 1.4 1.1 29.8
87 2025-04-16 IP -2.0 0.7 5.1 0.8 21.4 1.4 1.1 29.8
88 2025-04-16 Total Bus. Inventories, Advance inventories -2.0 0.7 5.1 0.8 23.9 1.4 1.1 29.8
89 2025-04-17 Housing starts, Housing permits -2.0 0.7 5.1 0.9 23.9 1.4 1.1 29.8