The Atlanta Fed GDPNow model projects the fourth-quarter GDP at 3.5%. That is unchanged from the yesterday’s estimate. In their own words:
“The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2022 is 3.5 percent on January 19, unchanged from January 18 after rounding. After this morning’s housing starts report from the US Census Bureau, the nowcast of fourth-quarter real residential investment growth increased from -24.6 percent to -24.0 percent.”
The next report will come out tomorrow after the existing home sales data. It will also be the last estimate before the 4Q GDP Advanced estimate is released on Thursday next week. Estimates from economist are around 2.8%.
Atlanta Fed GDPNow stays steady at 3.5%