Atlanta Fed's Q4 GDPNow estimate was revised down to 2.5%
Atlanta Fed's Q4 GDPNow estimate was revised down to 2.5% compared to 2.6% previously: "The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2016 is 2.5 percent on December 22, down from 2.6 percent on December 16. The forecasts of fourth-quarter real personal consumption expenditures and real intellectual property products investment growth increased modestly after this morning's GDP and personal income outlays reports from the U.S. Bureau of Economic Analysis (BEA). These were offset by modest declines in the forecasted contributions to growth from residential, nonresidential equipment and inventory investment after the aforementioned BEA releases, this morning's advance manufacturing report from the U.S. Census Bureau, and yesterday's existing-home sales release from the National Association of Realtors." The next GDPNow update is Tuesday, January 3. for more.