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Nowcast 4th Quarter GDP Estimate 2.4 Percent vs. GDPNow 3.6%

Friday, November 18, 2016 15:58
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(Before It's News)

mishtalk.com / Mike “Mish” Shedlock / November 18, 2016 2:55:44

Last quarter (third quarter), a huge initial discrepancy between the Atlanta Fed GDPNow Model and the FRBNY Nowcast Model ultimately resolved in favor of Nowcast.

For the third quarter, GDPNow tracked as high as 3.8% with the Nowcast lower nearly every step of the way until convergence, much lower near the end.

Once again, at the start of 4th quarter estimates, GDPNow is substantially higher. Will things play out the same way?

Nowcast November 18, 2016 Highlights

  • The FRBNY Staff Nowcast stands at 2.4% for 2016 Q4.
  • The current nowcast is 0.8 percentage point higher than two weeks ago, when the previous report was published.

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The post Nowcast 4th Quarter GDP Estimate 2.4 Percent vs. GDPNow 3.6% appeared first on Silver For The People.

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