Atlanta Fed GDPNow estimate falls to 8.6% for Q4 from 9.7% on 1 December

Joel Frank Independent Analyst

The Atlanta Fed's GDPNow estimate for the annualised QoQ pace of GDP growth in the US economy in Q4 fell to 8.6% on Tuesday from 9.7% last Wednesday (1 December). In light of 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% and 13.1%, respectively, to 8.6% and 11.3%, respectively. The next update to the forecast will be on Thursday.

Market Reaction

FX markets did not react to the latest update from the Atlanta Fed.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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