The NY Fed GDP Nowcast estimate for 4Q up to 3.94% from 3.88%

Still remains at the upper extreme of GDP estimates

The NY Fed is out with their latest estimate for 4Q GDP growth.

The current week estimates growth at 3.94% vs 3.8% last week. Capacity utilization, industrial production and data revisions contributed to the gain this week. Subtracting was building permits and housing starts.

For Q1, their estimate, they see 3.07% vs 3.21% last week.

The Atlanta Fed came out with their estimate for the 4Q yesterday. They see GDP growth at 3.4%.

The 4th quarter GDP will be released on January 26th. The Bloomberg estimate of economists projections range from 2.5% to 3.7%. The median estimate is 3.0%.