Atlanta Fed GDPNow for Q4 declines to 2.7%

According to the Federal Reserve Bank of Atlanta’s GDPNow model, the growth of the US economy is expected to record an annualized rate of 2.7% in 2022’s fourth quarter, slightly down from 2.8% in previous estimates.

“After this morning’s housing starts report from the US Census Bureau, the nowcast of fourth-quarter real residential investment growth decreased from -21.2% to -21.5%,” the Atlanta Fed explained in its publication.

This report does not seem to have a significant impact on the US Dollar’s performance against its major rivals. As of writing, the US Dollar Index was down 0.7% on the day at 103.95.