The Atlanta Federal Reserve maintained its estimate for U.S. economic growth in the fourth quarter on Friday, following the release of new data earlier that day. According to the GDPNow model, the projected real GDP growth for the fourth quarter remains at 3.0 percent. This forecast was updated from the January 9 prediction of 2.7 percent. The GDPNow model provides a real-time estimate of real GDP growth, incorporating the most recent economic data for the current quarter under analysis.
The Atlanta Fed explained that data from the U.S. Census Bureau and the Federal Reserve Board of Governors revealed a nuanced shift: the projection for fourth-quarter real personal consumption expenditures increased slightly from 3.7 percent to 3.8 percent. However, this increase was counterbalanced by a reduction in the anticipated contribution of inventory investment to real GDP growth, which adjusted from -0.37 percentage points to -0.41 percentage points.
The following GDPNow update is scheduled for release on January 28.
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