Latest Atlanta Fed GDPNow estimate shows lower Q4 growth at 2.0%

The Atlanta Fed GDPNow estimate for Q4 growth fell to 2.0% from 2.3% prior. In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2023 is 2.0 percent on January 2, down from 2.3 percent on December 22. After recent releases from the US Census Bureau, the nowcast of fourth-quarter real gross private domestic investment growth decreased from 0.8 percent to -0.4 percent, and the nowcast of the contribution of the change in real net exports to fourth-quarter real GDP growth decreased from -0.11 percentage points to -0.22 percentage points.

The next GDPNow update is Wednesday, January 3.