Atlanta Fed GDPNow estimate for Q4 growth rises to 2.4% from 2.2%

The Atlanta Fed GDPNow model estimate for Q4 growth rises to 2.4% from 2.2% last. In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2023 is 2.4 percent on January 17, up from 2.2 on January 10. After recent releases from the US Department of the Treasury’s Bureau of the Fiscal Service, the US Bureau of Labor Statistics, the US Census Bureau, and the Federal Reserve Board of Governors, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private domestic investment growth increased from 2.6 percent and -0.7 percent, respectively, to 2.8 percent and -0.5 percent.

The next GDPNow update is Thursday, January 18.

The final estimate for Q4 growth will be made on Janaury 19. The advance US GDP for Q4 will be released on Thursday, January 25 at 8:30 AM ET. The initial estimate for Q1 will be released on January 26

This article was written by Greg Michalowski at Source