"Atlanta Fed Raises Q4 GDP Forecast to 2.9%"

From Barron's Income Investing:

With some stronger economic news this week, the Atlanta Federal Reserve’s real-time gross domestic product tracker, known as GDPNow, raised its estimate for fourth quarter growth to 2.9% from 2.4% on November 30.

The model was above 3% most of November. The latest estimate for growth in the third quarter was 3.2%.

Here’s what the model was reacting to Thursday for the fourth quarter reading:

After this morning’s construction spending report from the U.S. Census Bureau, the forecasts of fourth-quarter real residential investment growth and real government spending growth increased from 7.1 percent to 12.4 percent and 0.1 to 0.6 percent, respectively. The forecast of real nonresidential structures investment growth fell from 1.4 percent to -3.4 percent after the same report....MORE