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The Effect of Weather on First-Quarter GDP

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  • Francois Gourio

Abstract

In a pattern similar to that of the previous year, the U.S. economy appeared to slow down this past winter. The Bureau of Economic Analysis currently estimates that gross domestic product (GDP) grew at 0.6% (at an annualized rate) in the first quarter of 2015. And as in the previous year, harsh winter weather has been cited by some observers as being responsible for the slowdown. However, there is substantial disagreement on the impact of weather on economic activity.

Suggested Citation

  • Francois Gourio, 2015. "The Effect of Weather on First-Quarter GDP," Chicago Fed Letter, Federal Reserve Bank of Chicago.
  • Handle: RePEc:fip:fedhle:00029
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    Keywords

    economy; GDP;

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