Nowcast does its final forecast on the day GDP comes out. It concludes it’s 4th-quarter forecast at 3.9%.
The final Nowcast estimate for 4th quarter GDP is an anticlimactic 3.9% today vs. the actual BEA estimate of 2.6%. The forecast for the first quarter is 3.1%.
Nowcast First-Quarter GDP Estimate
Note that today’s GDP report did not change the Nowcast First-Quarter estimate.
Today’s GDP advance announcement was weaker than expected. Some found hidden strength, others hidden weakness.
For discussion, please see Weaker Than Expected GDP: Mixed Bag or Worse?
