The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2018 is 2.8 percent on December 3, up from 2.6 percent on November 29. The nowcasts of fourth-quarter real consumer spending growth and fourth-quarter real private fixed investment growth increased from 3.2 percent and 4.1 percent, respectively, to 3.5 percent and 4.3 percent, respectively, after this morning’s construction spending report from the U.S. Census Bureau and this morning’s Manufacturing ISM Report On Business from the Institute for Supply Management.
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