In a boost to economic forecasts, the Atlanta Federal Reserve's GDPNow model has updated its estimate for the United States' fourth-quarter economic growth, increasing the outlook from a previous 2.7% to a robust 3.2%. Released on December 2, 2024, this revised projection indicates an optimistic end to the year for the US economy.
The GDPNow model is a real-time tracker of economic activity, and this latest update suggests stronger than anticipated economic performance in the closing months of 2024. Such an upswing is a positive signal for policymakers, investors, and analysts who rely on these projections to gauge economic health and make informed financial decisions.
While the GDPNow model's predictions are not official forecasts, the upward revision from the Atlanta Fed is reflective of underlying economic resilience, as the country continues navigating various fiscal challenges and uncertainties. As the year closes, the rise to 3.2% serves as a critical indicator of the US economy's strength in the face of both domestic and global economic pressures.
