New York Fed Nowcast Q4 GDP estimate dips to 1.1% from 1.2% last week

  


The Q1 estimate for GDP growth comes in at 1.0% vs 1.5% last week

The New York Fed’s Nowcast estimate for Q4 growth dips to 1.1% from 1.2% last week.  The employment component of the ISM subtracted -0.04% as did the my son composite index.  Data revisions added 0.04%.  

The Q1 estimate for GDP growth comes in at 1.0% vs 1.5% last week

As if the current quarter is hard enough to estimate, the New York Fed also has model to estimate the 1st quarter GDP. For that they see GDP growth declining to 1.0% from 1.5% in the prior week.

The biggest negative was the ISM composite index which attracted -0.26% (see the table below). The employment index subtracted -0.19%.

The 1Q GDP estimate comes in at 1.0% from 1.5% last week. The Atlanta Fed will be releasing their estimate for GDP sometime today. On December 23, they saw GDP growth at 2.3%.



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