High estimate compared to Atlanta Fed
The NY Fed's Nowcast tracker of GDP growth now sees 4Q growth at 4.0%. That is up from 3.9% last week.
The contributors over the last week include:
- export price index
- import price index
- CPI final demand
- Data revisions
Negatives as per their model include:
- capacity utilization
- industrial production
- retail sales and food services
- CPI less food and energy
- jolts job openings
The number is much higher than the Atlanta Fed estimate of 3.3% released yesterday. Goldman Sachs is even lower at 2.5%.
Which estimate do you expect President Trump to follow?