Atlanta Fed GDPNow rises to 2.5% from 2.0% last

The Atlanta FedGDPNow estimate for 4Q growth rises to 2.5% from 2.0% reported yesterday. In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2023 is 2.5 percent on January 3, up from 2.0 percent on January 2. After this morning’s release of the ISM Manufacturing Index from the Institute for Supply Management, the nowcasts of fourth-quarter gross personal consumption expenditures growth and fourth-quarter gross private domestic investment growth increased from 2.4 percent and -0.4 percent, respectively, to 2.9 percent and 0.5 percent

The next GDPNow update is Tuesday, January 9. Please see the “Release Dates” tab below for a list of upcoming releases.

This article was written by Greg Michalowski at Source