Third release numbers on GDP are out. Growth of Gross Domestic Output — the average of GDP and GDI — is down much more than that of GDP: nearly a percentage point.

Figure 1: Quarter-on-quarter output growth as measured by GDP (red), and by GDO (blue), SAAR. 2018Q1 figures are forecasts as for March 29, from Macroeconomic Advisers (red solid square) and from Atlanta Fed (red triangle). Source: BEA, Macroeconomic Advisers and Atlanta Fed.