The Atlanta Fed GDPNow 4Q estimate rises
Admittedly, this is old news (that is it was released a few hours ago). However, it is still good news (for GDP that is).
The Atlanta Fed GDPNow for 4Q GDP rose to 1.5% from 1.3% on Friday.
In their own words
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2019 is 1.5 percent on December 5, up from 1.3 percent on December 2. After this morning's and yesterday's data releases from the U.S. Bureau of Economic Analysis, the Institute for Supply Management, and the U.S. Census Bureau, increases in the nowcasts of real personal consumption expenditures growth and real private fixed-investment growth were slightly offset by decreases in the nowcasts of real private inventory investment and real net exports.
The next report will come tomorrow. The New York Fed will also release their weekly estimate for fourth-quarter GDP.
