The Atlanta Fed GDPNow falls back below 3%. Back at 2.8% for the current reading.
Atlanta Fed GDP estimate for the 4Q
"The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2017 is 2.8 percent on December 22, down from 3.3 percent on December 19. The forecast of fourth-quarter real consumer spending growth fell from 3.1 percent to 2.9 percent after this morning's personal income and outlays release from the U.S. Bureau of Economic Analysis (BEA). The forecast of the contribution of inventory investment fell from -0.14 percentage points to -0.40 percentage points after this morning's advance durable manufacturing release from the U.S. Census Bureau and the release of the revised underlying detail tables for the National Income and Product Accounts by the BEA this morning."
The next GDPNow update is Wednesday, January 3.