Atlanta Fed GDP now Growth estimate for Q4 rises to 3% from 2.7% last

The Atlanta Fed GDPNow growth estimate for Q4 increases to 3.0% from 2.7% in its last report. In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2024 is 3.0 percent on January 16, up from 2.7 percent on January 9. After recent releases from the Treasury’s Bureau of the Fiscal Service, the US Census Bureau, and the US Bureau of Labor Statistics, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real government expenditures growth growth increased from 3.3 percent and 2.9 percent, respectively, to 3.7 percent and 3.0 percent, while the nowcast of fourth-quarter real gross private domestic growth decreased from -0.4 percent to -0.8 percent.

The next GDPNow update is Friday, January 17. Please see the “Release Dates” tab below for a list of upcoming releases.

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