The Federal Reserve Bank of Atlanta has revised its projection for U.S. economic growth in the fourth quarter, following recent government data releases. The GDPNow model's forecast for real GDP growth has been adjusted downwards to 2.6% from the previously anticipated 3.1% as of December 24.
According to the Atlanta Fed, the revision is primarily due to changes in two specific economic metrics. Recent data from the U.S. Census Bureau led to the downward adjustment of the outlook for fourth-quarter real gross private domestic investment growth, which moved from an estimated increase of 1.3% to a decrease of 0.7%. Conversely, the forecast for fourth-quarter real government expenditure growth saw a slight upward revision from 2.6% to 2.9%.
GDPNow provides an ongoing estimate of real GDP growth based on the latest economic data for the current quarter. The subsequent update for the GDPNow forecast is scheduled for release on Friday, January 3.
The material has been provided by InstaForex Company - www.instaforex.com
According to the Atlanta Fed, the revision is primarily due to changes in two specific economic metrics. Recent data from the U.S. Census Bureau led to the downward adjustment of the outlook for fourth-quarter real gross private domestic investment growth, which moved from an estimated increase of 1.3% to a decrease of 0.7%. Conversely, the forecast for fourth-quarter real government expenditure growth saw a slight upward revision from 2.6% to 2.9%.
GDPNow provides an ongoing estimate of real GDP growth based on the latest economic data for the current quarter. The subsequent update for the GDPNow forecast is scheduled for release on Friday, January 3.
The material has been provided by InstaForex Company - www.instaforex.com