- Prior was +3.2%
The Atlanta Fed GDPNow tracking estimate as been trimmed to 2.8% from 3.2% on Dec 9 after today's retail sales disappointment.
"After recent releases from the US Census Bureau, the US Bureau of Labor Statistics, the US Department of the Treasury's Bureau of the Fiscal Service, and the Federal Reserve Board of Governors, the nowcasts of fourth-quarter gross personal consumption expenditures growth, fourth-quarter gross private domestic investment growth, and fourth-quarter real government spending growth decreased from 3.7 percent, 0.7 percent, and 1.1 percent, respectively, to 3.4 percent, -0.1 percent, and 0.8 percent, respectively."
The market is increasingly focused on Q1 and what looks like could be a sharp slowdown.
