The Atlanta Federal Reserve announced an upward revision to its U.S. fourth-quarter economic growth projection on Tuesday, attributing the change to newly released data. The GDPNow model, which provides a real-time estimate of real GDP growth, now anticipates a 3.2 percent increase for the quarter, up from the 3.0 percent forecasted on January 17. This model dynamically adjusts its predictions based on currently available economic data for the assessed quarter.
Following recent data releases from the U.S. Census Bureau and the National Association of Realtors, the projection for fourth-quarter real gross private domestic investment growth saw an increase from -0.9 percent to 0.1 percent, according to the Atlanta Fed. The subsequent update from GDPNow is scheduled for release on Wednesday, January 29.
