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US DATA: GDPNow Lifts To 2.7% Annualized For Q4 Tracking

US DATA
USEM BulletFixed Income BulletsData BulletBulletMarketsEmerging Market NewsForeign Exchange BulletsNorth America
  • Atlanta Fed’s GDPNow tracker has been revised up to 2.7% annualized for Q4 from 2.4% in the Jan 3 update, picking up from what had been a relatively weak patch for the tracker after >3% readings.
  • Intra-release details show that yesterday’s durable goods data had a greater impact but today’s ISM services and international trade reports also helped.
  • Domestic demand contributions continue to look strong, pointing to 3.05pp after the 3.7pp in Q3 was the strongest since 1Q23.
  • Within that, consumer spending is seen adding 2.2pp in Q4 after the 2.5pp in Q3.
  • The Q4 advance release is set for Jan 30. 
image
Source: Atlanta Fed
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  • Atlanta Fed’s GDPNow tracker has been revised up to 2.7% annualized for Q4 from 2.4% in the Jan 3 update, picking up from what had been a relatively weak patch for the tracker after >3% readings.
  • Intra-release details show that yesterday’s durable goods data had a greater impact but today’s ISM services and international trade reports also helped.
  • Domestic demand contributions continue to look strong, pointing to 3.05pp after the 3.7pp in Q3 was the strongest since 1Q23.
  • Within that, consumer spending is seen adding 2.2pp in Q4 after the 2.5pp in Q3.
  • The Q4 advance release is set for Jan 30. 
image
Source: Atlanta Fed