Big jump in Atlanta Fed GDP estimate from 3.5% last
The Atlanta Fed GDPNow estimate for 4Q rose to 5.4% from 3.5% last.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2020 is 5.4 percent on November 17, up from 3.5 percent on November 6. After recent data releases from the U.S. Bureau of Labor Statistics, the U.S. Census Bureau, the U.S. Department of the Treasury's Bureau of the Fiscal Service, and the Federal Reserve Board of Governors, an increase in the nowcast of fourth-quarter real personal consumption expenditures growth from -0.4 percent to 2.6 percent was slightly offset by a decrease in the nowcast of real gross private domestic investment growth from 28.8 percent to 27.4 percent.
The next GDPNow update is Wednesday, November 18. Please see the "Release Dates" tab below for a list of upcoming releases.
