Atlanta Fed GDPNow forecast leaps to 2.6% from 1.2%

<p>It's tough to ignore the Atlanta Fed's GDP tracker after it correctly predicted a super-strong GDP report in Q3 far before economists.</p><p>Now it's hinting at strength again with the tracker rising to 2.6% from 1.2% a week ago.</p><blockquote>After recent releases from the US Census Bureau, the US Bureau of Labor Statistics, and the US Department of the Treasury's Bureau of the Fiscal Service, the nowcasts of fourth-quarter real personal consumption expenditures growth, fourth-quarter real gross private domestic investment growth, and fourth-quarter real government spending growth increased from 1.9 percent, -3.0 percent, and 3.1 percent, respectively, to 3.0 percent, 0.5 percent, and 3.6 percent, while the nowcast of the contribution of the change in real net exports to fourth-quarter real GDP growth decreased from -0.06 percentage points to -0.12 percentage points.</blockquote><p>This whole setup of a no-landing scenario without inflation is beginning to feel like the set-up of a rug pull, I'm just not sure in what direction.</p>

This article was written by Adam Button at www.forexlive.com.