The GDP nowcast in the first quarter of 2024 and the short term inflation 6/17/2024 Tweet PDF - The GDP nowcast in the first quarter of 2024 and the short term inflation Key notes • The CBBH estimates the annual growth of real economic activity in the first quarter of 2024 at 1.8%, which is almost identical to the estimate from March (1.7%). • The preliminary estimates of real GDP trends for the second quarter of 2024 indicates a slightly faster growth of 2.4% on an annual basis. • We estimate that headline inflation could amount to 2.6%, and core inflation to 4.2% in the second quarter of 2024. We expect that the annual inflation in the second quarter will be slightly higher in May and June as a result of primarily the low base in the previous year, primarily in the sections of transportation and utilities' costs. • Current estimates of quarterly economic activity and the short term inflation are consistent with previously published mid-term annual macroeconomic projections.
