Atlanta Fed Q4 GDPNow +1.2% vs +2.3% previously

<p>The Atlanta Fed GDPNow tracker got plenty of attention ahead of last week's GDP report because it was persistently on the high side and that proved to be right.</p><p>Now, it's downshifting significantly and sees 1.2% growth in Q4.</p><blockquote>After this morning’s construction spending release from the US Census
Bureau and the Manufacturing ISM Report On Business from the Institute
for Supply Management, the nowcasts of fourth-quarter real personal
consumption expenditures growth and fourth-quarter real gross private
domestic investment growth decreased from 3.0 percent and -2.2 percent,
respectively, to 1.5 percent and -2.8 percent, while the nowcast of the
contribution of the change in real net exports to fourth-quarter real
GDP growth increased from 0.11 percentage points to 0.22 percentage
points. </blockquote><p>It's early in Q4 tracking, so expect the numbers to be volatile and remember that we're three months away from the very first reading on Q4.</p>

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