The Atlanta Fed GDPNow growth estimate for Q4 2024 fell to 2.4% compared to 2.6% on January 2.
In their own words:
The GDPNow model estimate is for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2024. 2.4 percent on January 3, down from 2.6 percent on January 2. Following this morning's ISM Manufacturing Report on Business from the Institute for Supply Management, the rates of growth of real personal consumption expenditures in the fourth quarter and growth of real private domestic investment in the fourth quarter decreased from 3.2 percent and -0.7 percent, respectively, to 3.0 percent and -0.9 percent.
The next update is GDPNow Tuesday, January 7. See the “Release Date” tab below for a list of upcoming releases.
The model has seen a decline since peaking at 3.4% on 11 December. However, it is still strong growth for the fourth quarter. The third quarter saw GDP growth of 3.1% annually.
