Atlanta Fed GDPNow dips to 3.8% from 3.9% last

The Atlanta Fed is out with their most recent guesstimate for 4th quarter growth. That estimate has seen a small dip to 3.8% from 3.9% on Tuesday.

In their own words:

"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2022 is 3.8 percent on January 5, down from 3.9 percent on January 3. After recent releases from the Institute for Supply Management, the US Bureau of Economic Analysis, and the US Census Bureau, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private domestic investment growth decreased from 3.6 percent and 6.1 percent, respectively, to 3.2 percent and 5.8 percent, respectively, while the nowcast of the contribution of the change in real net exports to fourth-quarter real GDP growth increased from 0.17 percentage points to 0.35 percentage points."

The next estimate will me on January 10th.

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