Dips from the report on December 17
The Atlanta Fed GDP now forecast for fourth-quarter growth dipped to 2.1% from 2.3% prior (December 17).
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2019 is 2.1 percent on December 20, down from 2.3 percent on December 17. After this morning’s and yesterday’s releases from the U.S. Bureau of Economic Analysis and National Association of Realtors, the nowcast of fourth-quarter real gross private domestic investment growth decreased from 0.6 percent to -0.9 percent.
The next estimate will be on December 24
Earlier today the New York Fed release their Nowcast estimate for 4Q growth and it came in at 1.3% versus 0.7% last Friday. If anything, the spread between GDP forecast as narrowed in the current week.