Pat Higgins of the Federal Reserve Bank of Atlanta announced his initial forecast for fourth-quarter GDP.
GDPNow initial forecast
Latest estimate: 2.3 percent — October 27, 2023
The GDPNow model’s initial estimates for real GDP growth (seasonally adjusted annual rate) for the fourth quarter of 2023 are: 2.3 percent The U.S. Bureau of Economic Analysis’s initial forecast for real GDP growth in the third quarter, released on October 26, was 4.9%, 0.5 percentage point below the final GDPNow model nowcast released on October 25. .
The Atlanta Fed has been working diligently to outperform blue chip forecasts and the Econoday consensus. The latter was 4.2%, down 0.7 percentage points.
GDP increased by 4.9%, but real disposable income decreased by 1.0%
Click here for Q3 GDP. GDP increased by 4.9%, but real disposable income decreased by 1.0%
Click here to learn more about disposable income. Individuals’ real disposable income declines in the third month, but spending soars
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