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Atlanta Fed GDPNow Revised Higher On ISM Mfg

US DATA
  • The Atlanta Fed GDPNow for Q4 was revised up to 2.51% from yesterday’s 2.0%, more than reversing yesterday’s downward revision from what had been 2.26% at the end of 2023.
  • Driven by today’s ISM manufacturing release, latest revisions came from personal consumption (from 2.4% to 2.9%) and private domestic investment (from-0.4% to +0.5%).
  • Implying a moderation to a rate above the 2.15% averaged in 1H23, it suggests no payback from the 4.9% surge in Q3.

Source: Atlanta Fed

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