New York Fed Nowcast estimate for 4Q GDP growth down to 0.4% annualized


Down from 0.7% last week.

The New York Fed Nowcast estimate for 4Q GDP growth has moved down to 0.4% from 0.7% last week. If you look at the ungrounded numbers, the result is even worse with a move from 0.73% to 0.39%.  Yikes.

Down from 0.7% last week.

The biggest decliners came from capacity utilization and industrial production which subtracted -0.26% and -0.22% respectively.  The biggest positive was from retail sales, CPI and PPI but they only added 0.03% to 0.05% to the final number.

The latest Atlanta Fed estimate will be released later today. The last estimate from last week was at 1.0%.


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