Atlanta Fed GDPNow growth estimate for 4Q dips to 3.1% from 3.3% last

The Atlanta Fed GDPNow growth estimate for 4Q comes in at 3.1% down from 3.3% on December 9. IN their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2024 is 3.1 percent on December 17, down from 3.3 percent on December 9. After recent releases from the US Census Bureau, the US Bureau of Labor Statistics, and the Federal Reserve Board of Governors, the nowcast of fourth-quarter real gross private domestic investment growth decreased from 2.4 percent to 1.2 percent, while the nowcast of real government expenditures growth increased from 2.4 percent to 2.6 percent.

The next GDPNow update is Wednesday, December 18. Please see the “Release Dates” tab below for a list of upcoming releases.

This article was written by Greg Michalowski at www.forexlive.com.