Atlanta Fed GDPNow growth estimate for Q4 rises to 2.7% from 2.4%

The Atlanta Fed GDPNow growth estimate for Q4 rises to 2.7 from 2.4% previously.

In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2024 is 2.7 percent on January 7, up from 2.4 percent on January 3. After recent releases from the US Census Bureau, the Institute for Supply Management, and the US Bureau of Economic Analysis, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private domestic investment growth increased from 3.0 percent and -0.9 percent, respectively, to 3.3 percent and -0.6 percent, while the nowcast of the contribution of net exports to fourth-quarter real GDP growth increased from 0.07 percentage points to 0.11 percentage points.

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

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