Economic activity in the fourth quarter edged higher in the latest round of estimates, based on the median for a set of nowcasts compiled by The Capital Spectator. Output is still on track to slow vs. previous quarters, but new data point to a mildly firmer increase.
Q4 GDP is expected to rise 1.8%, according to the median nowcast. That compares with a 2.1% gain in Q3, according to the Bureau of Economic Analysis. BEA is scheduled to release the initial Q4 data on Jan. 30.
Today’s revised Q4 estimate continues to reflect a borderline sluggish expansion, although the current nowcast marks a modest improvement over the 1.5% estimate published on Nov. 26. That’s a sign that a degree of strengthening may be underway.
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