Atlanta Fed's Q4 GDPNow estimate was slashed to 2.4%
Atlanta Fed's Q4 GDPNow estimate was slashed to 2.4% from 3.6% previously following recent data inputs: "The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2016 is 2.4 percent on November 30, down from 3.6 percent on November 23. The forecast of the combined contributions of real net exports and real inventory investment to fourth-quarter growth fell from 0.61 percentage points to 0.18 percentage points after last Friday's advance economic indicators report from the U.S. Census Bureau. The forecast of fourth-quarter real consumer spending growth fell from 3.0 percent to 2.2 percent after this morning's personal income and outlays release from the U.S. Bureau of Economic Analysis." The next GDPNow update is Thursday, December 1. for more.