Atlanta Fed GDPNow dips to 1.2% from 1.3% previously

The Atlanta Fed GDPNow model estimate for Q4 growth dipped to 1.2% from 1.3% yesterday. In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2023 is 1.2 percent on December 7, down from 1.3 percent on December 6 after rounding. After this morning’s wholesale trade release from the US Census Bureau, the nowcast of fourth-quarter real gross private domestic investment growth decreased from -2.9 percent to -3.0 percent.

The next GDPNow update is Thursday, December 14. Please see the “Release Dates” tab below for a list of upcoming releases.

The model growth rate is near the top 10 and bottom 10 average forecasts (see chart above)

This article was written by Greg Michalowski at Source