The Atlanta Fed GDPNow progress estimate for the fourth quarter fell to 2.3% from 2.7% within the preliminary launch yesterday. Of word is that the third quarter estimate from the Atlanta Fed’s mannequin was spot on at 2.8%.
In their very own phrases:
The GDPNow mannequin estimate for actual GDP progress (seasonally adjusted annual charge) within the fourth quarter of 2024 is 2.3 p.c on November 1, down from 2.7 p.c on October 31. After this morning’s development spending launch from the US Census Bureau, the employment report from the Bureau of Labor Statistics, and the Manufacturing ISM Report On Enterprise from the Institute for Provide Administration, the nowcasts of fourth-quarter actual private consumption expenditures progress and fourth-quarter actual gross non-public home funding progress decreased from 2.9 p.c and 1.1 p.c, respectively, to 2.6 p.c and 0.4 p.c.
The following GDPNow replace is Tuesday, November 5. Please see the “Launch Dates” tab beneath for a listing of upcoming releases.
This text was written by Greg Michalowski at www.forexlive.com.
