Atlanta Fed GDPNow estimate falls to 8.6% for Q4 from 9.7% on 1 December

The Atlanta Fed's GDPNow estimate for the annualised QoQ pace of GDP growth in the US economy in Q4 fell to 8.6% on Tuesday from 9.7% last Wednesday (1 December). In light of 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 decreased from 9.6% and 13.1%, respectively, to 8.6% and 11.3%, respectively. The next update to the forecast will be on Thursday. 

Market Reaction

FX markets did not react to the latest update from the Atlanta Fed.