The Atlanta Fed GDPNow estimate for GDP growth in the 4Q fell to 8.6% from 9.7% on December 1.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2021 is 8.6 percent on December 7, down from 9.7 percent on December 1. After the December 1 GDPNow update and subsequent releases from the US Census Bureau, the US Bureau of Economic Analysis, and the Institute for Supply Management, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private domestic investment growth decreased from 9.6 percent and 13.1 percent, respectively, to 8.6 percent and 11.3 percent, respectively, while the nowcast of the contribution of the change in real net exports to fourth-quarter real GDP growth decreased from 0.42 percentage points to 0.36 percentage points.
The next report will be on Thursday, December 9
Below are the changes in the different categories since December 1. SIx of 10 components were lower. 2 were unchanged and 2 were higher.
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