The Atlanta Federal Reserve's GDPNow model has projected a slight uptick in the United States' economic growth for the fourth quarter of 2024. According to the latest update released on December 9, the GDPNow forecast has reached 3.3%, marking a marginal increase from its previous projection of 3.2%.
This latest update signals cautious optimism for the US economy as it approaches the end of the year. The GDPNow model, which provides a running estimate of the current quarter's GDP growth based on available economic data, suggests that economic activities are maintaining a steady pace, offering some solace to markets and policymakers.
Observers and financial analysts will be keeping a close eye on upcoming economic data to see if this upward trend will continue, supporting a firmer recovery narrative or if it will face challenges that could dampen the pace of growth. For now, the modest rise in the GDPNow forecast is seen as a positive sign for the US economic trajectory as 2024 draws to a close.
