GDPNow at +2.9%, up from +2.5%… Atlanta Fed

January 4, 2017 by Jim Colburn Leave a Comment

Recent economic data has increased the Atlanta Fed’s estimate of current quarter GDP:

“The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2016 is 2.9 percent on January 3, up from 2.5 percent on December 22. The forecast of the contribution of inventory investment to fourth-quarter growth increased from 0.35 percentage points to 0.73 percentage points following the U.S. Census Bureau’s Advance Economic Indicators release on December 29. This was offset by a decline in the forecast of the contribution of net exports to fourth-quarter growth from -0.25 percentage points to -0.67 percentage points following the same release. The forecasts for consumer and government spending and business fixed investment all increased after this morning’s construction spending release from the U.S. Census Bureau and the Manufacturing ISM Report On Business from the Institute of Supply Management.”

The next update is this Friday…

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