The Atlanta Fed GDPNow estimate for 4Q growth has dipped to 1.8% from 2.1% on November 22. In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2023 is 1.8 percent on November 30, down from 2.1 percent on November 22. After recent releases from the US Census Bureau and the US Bureau of Economic Analysis, a decrease in the nowcast of fourth-quarter real gross private domestic investment growth from -1.1 percent to -2.7 percent was slightly offset by an increase in the nowcast of fourth-quarter real personal consumption expenditures growth from 2.5 percent to 2.7 percent, while the nowcast of the contribution of the change in real net exports to fourth-quarter real GDP growth decreased from 0.09 percentage points to -0.05 percentage points.
The next report will be released on December 1
This article was written by Greg Michalowski at www.forexlive.com. Source