Atlanta Fed's GDPNow eases to 2.7% from 3.4% for Q4

"The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2017 is 2.7 percent on November 30, down from 3.4 percent on November 22," the Federal Reserve Bank of Atlanta announced on Thursday.

Key highlights

The forecast of the contribution of net exports to fourth-quarter real GDP growth declined from –0.18 percentage points to –0.41 percentage points after Tuesday's Advance Economic Indicators Report from the U.S. Census Bureau.

The forecast of fourth-quarter real consumer spending growth fell from 3.3 percent to 2.6 percent after this morning's personal income and outlays release from the U.S. Bureau of Economic Analysis.