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US DATA: GDPNow Revised Up To 3.2% In Penultimate Q4 Release

US DATA
USEM BulletFixed Income BulletsData BulletBulletMarketsEmerging Market NewsForeign Exchange BulletsNorth America
  • The Atlanta Fed’s GDPNow for Q4 has been pushed higher to 3.2% annualized for Q4 from 3.0% in the Jan 17 update, following already robust real GDP growth of 3.1% in Q3 and 3.0% in Q2.
  • The upward revision came as real gross private domestic investment growth is now seen at 0.1% vs -0.9% previously, although it was driven by expectations of a smaller than previously tracked drag from inventories rather than stronger investment.
  • Domestic demand contributions continue to look strong, pointing to 3.4pp after the 3.7pp in Q3 was the strongest since 1Q23.
  • Within that, consumer spending is still seen adding 2.5pp in Q4 to match the strong 2.5pp in Q3.
  • Tomorrow sees the final estimate before the official Q4 advance release on Thursday.
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  • The Atlanta Fed’s GDPNow for Q4 has been pushed higher to 3.2% annualized for Q4 from 3.0% in the Jan 17 update, following already robust real GDP growth of 3.1% in Q3 and 3.0% in Q2.
  • The upward revision came as real gross private domestic investment growth is now seen at 0.1% vs -0.9% previously, although it was driven by expectations of a smaller than previously tracked drag from inventories rather than stronger investment.
  • Domestic demand contributions continue to look strong, pointing to 3.4pp after the 3.7pp in Q3 was the strongest since 1Q23.
  • Within that, consumer spending is still seen adding 2.5pp in Q4 to match the strong 2.5pp in Q3.
  • Tomorrow sees the final estimate before the official Q4 advance release on Thursday.
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