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 www.forexlive.com. Source