Atlanta Fed GDPnow estimate for This autumn development
The Atlanta Fed GDPNow estimate for This autumn development rose to 4.3% from 4.2% final. In their very own phrases:
The GDPNow mannequin estimate for actual GDP development (seasonally adjusted annual price) within the fourth quarter of 2022 is 4.3 p.c on November 23, up from 4.2 p.c on November 17. After current releases from the US Census Bureau and the Nationwide Affiliation of Realtors, the nowcast of fourth-quarter actual gross non-public home funding development elevated from 0.4 p.c to 1.0 p.c.
The following estimate shall be on December 1
The info from the GDP mannequin runs counter to this PMI information launched earlier right this moment. That information confirmed flashes providers PMI falling 246.1 from 47.8 final month. The manufacturing PMI fell to 47.6 from 50.4 final month.
