Atlanta Fed GDPNow model cuts Q4 GDP estimate to +0.8%

Inventories weigh on GDP forecast

It was lowered to +0.8% from +1.0%.

It started the year at 1.3%, then was cut to +0.7%, then up to 1.0% and now down to +0.8%.

"The forecast for the contribution of inventory investment to fourth-quarter real GDP growth declined 0.2 percentage points to -0.8 percentage points after this morning's wholesale trade report from the U.S. Census Bureau," the Atlanta Fed said.