It's early but model is showing a big rebound from Q3 growth
It is still early, but the Q4 Atlanta Fed GDPNow estimate for GDP growth is coming in at 8.2% versus 8.5% in its last estimate on November 4.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2021 is 8.2 percent on November 10, down from 8.5 percent on November 4. After the November 4 GDPNow update and subsequent releases from the US Census Bureau and the US Bureau of Labor Statistics, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private domestic investment growth decreased from 9.4 percent and 11.0 percent, respectively, to 9.1 percent and 10.2 percent, respectively.
The next estimate will be released on Tuesday, November 16.
For the full report, CLICK HERE.
The third quarter advance estimate for GDP came in at 2.0%. The Atlanta Fed estimated growth of 0.2%.
