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US DATA: GDPNow Lifts To 2.7% After Week’s Front-Loaded Data

US DATA
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  • The Atlanta Fed’s GDPNow has lifted its real GDP growth tracker for Q4 by a tenth to 2.7% annualized vs 2.6% on Nov 19, after today’s unrevised Q3 estimate of 2.8%.
  • That’s down from 2.8% with yesterday’s intra-update estimate after new home sales (interestingly considered sales were much weaker than expected with signs of weather disruption) after today’s data included GDP, personal income and durable goods releases.
  • Q4 tracking continues to point to solid final domestic demand but at a 2.8pp contribution it would see a pull back from the particularly strong 3.5pp in Q3.
  • Net exports are currently seen as the main offsetting factor (considering GDP growth is seen at a similar pace between Q3 and Q4) with a boost of 0.3pp in Q4 after dragging -0.6pps in Q3.  
Source: Atlanta Fed

 

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  • The Atlanta Fed’s GDPNow has lifted its real GDP growth tracker for Q4 by a tenth to 2.7% annualized vs 2.6% on Nov 19, after today’s unrevised Q3 estimate of 2.8%.
  • That’s down from 2.8% with yesterday’s intra-update estimate after new home sales (interestingly considered sales were much weaker than expected with signs of weather disruption) after today’s data included GDP, personal income and durable goods releases.
  • Q4 tracking continues to point to solid final domestic demand but at a 2.8pp contribution it would see a pull back from the particularly strong 3.5pp in Q3.
  • Net exports are currently seen as the main offsetting factor (considering GDP growth is seen at a similar pace between Q3 and Q4) with a boost of 0.3pp in Q4 after dragging -0.6pps in Q3.  
Source: Atlanta Fed