Up from Friday's estimate
In their words:
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2017 is 3.4 percent on January 18, up from 3.3 percent on January 12. The fourth-quarter forecast of real consumer spending growth increased from 3.8 percent to 4.0 percent after Wednesday's industrial production release from the Federal Reserve Board of Governors.
The next estimate will be on Thursday, January 25
Growth is looking good for the 3rd straight quarter. The 2nd quarter growth was 3.1%. The 3rd quarter came in at 3.2%. The first cut of the 4th quarter will be announced on January 26th. The Bloomberg estimate of economists projections range from 2.5% to 3.7%. The median estimate is 3.0%.
