The Atlanta Fed GDPNow growth estimate for Q4 came in marginally higher at 2.4% vs 2.3% last. In their own words:
he GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2024 is 2.4 percent on November 5, up from 2.3 percent on November 1. After recent releases from the US Census Bureau, the Institute for Supply Management, and the US Bureau of Economic Analysis, the nowcast of fourth-quarter real personal consumption expenditures growth increased from 2.6 percent to 2.7 percent.
The next GDPNow update is Thursday, November 7. Please see the “Release Dates” tab below for a list of upcoming releases.
Last quarter the Atlanta Fed model hit the Q3 number on the screws at 2.8% The Atlanta Fed model has been doing a good job of projecting growth and as such, has been gaining the confidence of the markets.
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