Atlanta Fed GDPNow unchanged at 2.9% for Q4
Still at the high end...
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2016 is 2.9 percent on January 10, unchanged from January 6. The forecast of the contribution of real inventory investment to fourth-quarter growth ticked up from 0.74 percentage points to 0.77 percentage points after this morning's wholesale trade report from the U.S. Census Bureau.
The next GDPNow update is Friday, January 13
The estimate runs in contrast to the NY Feds estimate of 1.9%. Who is right? The first cut of the 4Q GDP comes out on January 27th. The Bloomberg survey of economists currently shows an estimate of 2.0%.