Atlanta Fed bumps the GDPNow forecast back higher

Now sees Q4 GDP at 1.0%

The forecast was raised to 1.0% from 0.7% for the fourth quarter. Earlier this week it was cut to 0.7% from 1.3% after soft construction spending.

The Atlanta Fed cited the latest trade report:

"The forecast for the contribution of net exports to fourth-quarter real GDP growth increased 0.2 percentage points to -0.2 percentage points after this morning's international trade report from the U.S. Census Bureau."