The Atlanta Fed GDPNow estimate for the 4Q of 2017 came in at 2.4% vs. 2.6% last (from December 9th). This runs in contrast to the sharper fall and value from JP Morgan released just prior to this report.
As per their website:
The next GDPNow update is Friday, December 16.
The NY Fed also releases a GDP estimate. Their last report came on December 2nd and showed a 2.7% estimate for GDP - more in line with the Atlanata Fed. However, they did not report last week as it came during the FOMCs quiet period before the meeting this week. Below are the highlights from that report.
- The FRBNY Staff Nowcast stands at 2.7% for 2016:Q4.
- News from this week's data releases provided mixed signals, but overall had a positive impact on the nowcast.
- Real gross domestic income and labor market data had the largest positive contributions to the nowcast, only slightly offset by negative news from personal consumption expenditures.
The lower retail sales this week will have had a negative impact of course.
The next report from NY will be on Friday.