Atlanta Fed GDPNow growth estimate for 4Q rises modestly to 6.8% from 6.7% previously
The Atlanta Fed GDPNow estimate for fourth quarter GDP saw a modest tick up to 6.8% from 6.7% previously. In their own words:
“The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2021 is 6.8 percent on January 10, up from 6.7 percent on January 6. After the January 6 GDPNow update and subsequent releases from the US Bureau of Labor Statistics and the US Census Bureau, the nowcast of fourth-quarter real gross private domestic investment growth increased from 17.4 percent to 17.8 percent.”
The low watermark for the GPS meant was the initial estimate back on October 29 at 6.6%. On January 6 and January 7, the model had moved to within 0.1% of that low (at 6.7%).
The high estimate reached 8.8% on December 10.