The Atlanat Fed’s nowcast for GDP Q3 was continually revised downward… Yesterday’s retail sales data bumped up its estimate for Q4 a bit:
“The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2016 is 3.3 percent on November 15, up from 3.1 percent on November 9. The forecast of fourth-quarter real personal consumption expenditures growth increased from 2.6 percent to 2.9 percent after this morning’s retail sales report from the U.S. Census Bureau.”
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