Atlanta Fed Raises Q4 GDP Growth Estimate To 3%

(RTTNews) - The Atlanta Fed lifted its estimate for U.S. GDP growth in the fourth quarter of 2024 on Thursday citing the recent economic data.

The GDPNow model estimate for real GDP growth for the fourth quarter was raised to 3.0 percent from 2.7 percent forecast on January 9.

"After recent releases from the Treasury's Bureau of the Fiscal Service, the US Census Bureau, and the US Bureau of Labor Statistics, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real government expenditures growth increased from 3.3 percent and 2.9 percent, respectively, to 3.7 percent and 3.0 percent, while the nowcast of fourth-quarter real gross private domestic growth decreased from -0.4 percent to -0.8 percent," the Atlanta Fed said.