Atlanta Fed GDPnow estimate for Q4 growth
The Atlanta Fed GDPNow estimate for Q4 growth rose to 4.3% from 4.2% last. In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2022 is 4.3 percent on November 23, up from 4.2 percent on November 17. After recent releases from the US Census Bureau and the National Association of Realtors, the nowcast of fourth-quarter real gross private domestic investment growth increased from 0.4 percent to 1.0 percent.
The next estimate will be on December 1
The data from the GDP model runs counter to this PMI data released earlier today. That data showed flashes services PMI falling 246.1 from 47.8 last month. The manufacturing PMI fell to 47.6 from 50.4 last month.