The Atlanta Federal Reserve's closely watched GDPNow model, which provides a real-time estimate of the U.S. economic growth, showed a slight improvement for the third quarter of 2024. According to the latest data updated on September 27, 2024, the GDP growth rate has edged up to 3.1%. This marks a modest increase from the previous indicator of 2.9% recorded earlier in the same quarter.
The shift from 2.9% to 3.1% suggests a more optimistic economic outlook as the quarter progressed, presenting a stable growth trajectory amidst varying economic conditions. The GDPNow model is praised for its accuracy and timeliness, making it a vital tool for policymakers, investors, and analysts who monitor the health of the U.S. economy.
As the year draws to a close, all eyes will be on how these trends persist and whether the fourth quarter will continue to reflect this positive momentum. With current indicators projecting a steady climb, stakeholders hope this signals sustained economic resilience heading into 2025.
