Atlanta Fed GDPNow index rises to 3.6% from 2.6% last

The model for 4Q growth in the US from the Atlanta Fed showed a sharp jump to 3.6% from 2.6% on November 1.

In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2022 is 3.6 percent on November 3, up from 2.6 percent on November 1. After recent 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 increased from 2.9 percent and -1.3 percent, respectively, to 4.0 percent and 0.7 percent, respectively, while the nowcast of the contribution of the change in real net exports to fourth-quarter real GDP growth decreased from 0.74 percentage points to 0.62 percentage points.

The next release will be on Wednesday November 9.

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