Pat Higgins of the Atlanta Fed released his first forecast for fourth-quarter GDP.
First GDPNow forecast
Latest estimate: 2.3 percent – 27. October 2023
The initial GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2023 is 2.3 percent on October 27th. The first estimate of third-quarter real GDP growth released by the U.S. Bureau of Economic Analysis on October 26 was 4.9 percent, 0.5 percentage points lower than the final GDPNow model nowcast released on was released October 25th.
The Atlanta Fed had a strong hand in its forecasts, beating the blue chip forecast and the Econoday consensus. The latter was 0.7 percentage points below the mark at 4.2 percent.
GDP growth by a whopping 4.9 percent, but real disposable income falls by 1.0 percent
For third quarter GDP, see GDP growth of 4.9 percent, but real disposable income falls by 1.0 percent
For more information about disposable income, see Real disposable personal income falls in the third month, but expenses rise
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