The Atlanta Federal Reserve has reaffirmed its projection for U.S. economic growth in the fourth quarter, maintaining it at 3.1 percent, as reported on Thursday, grounded in recent official statistics.
Following the release of the advance durable goods manufacturing report and the new home sales data from the U.S. Census Bureau, the Atlanta Fed indicated a slight uptick in their nowcast for fourth-quarter real gross private domestic investment growth from 1.2 percent to 1.3 percent.
The GDPNow model serves as a continuous gauge of real GDP growth calculated from available economic data for the current quarter under consideration.
The subsequent update for the GDPNow forecast is scheduled for Thursday, January 2.