The 4Q estimate for GDP growth from the Atlanta Fed
The Atlanta Fed 4Q GDP growth estimate rises to 8.2% from 6.6% on Friday after the ISM and construction spending data released today. 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 1, up from 6.6 percent on October 29. After this morning's Manufacturing ISM Report On Business from the Institute for Supply Management and the construction spending report from the US Census Bureau, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private domestic investment growth increased from 7.1 percent and 8.7 percent, respectively, to 8.9 percent and 10.5 percent, respectively.
The next release will come on November 4
In the third quarter the final Atlanta Fed model value estimated growth at 0.2%. The actual GDP for the third quarter came in at 2.0% (subject to revisions over the next few months).
