US GDP Nowcasts Suggest Q4 Slowdown to Be Milder Than Previously Feared

 | Nov 16, 2023 23:23

US economic activity in the fourth quarter remains set for a sharp slowdown vs. Q3, but the pace of expected growth has strengthened recently, based on updated nowcasts.

Output for Q4 is estimated at 2.0%, based on the median for a set of estimates compiled by CapitalSpectator.com. That’s still far below the red-hot 4.9% increase reported for Q3. Note, however, that today’s revised Q4 median nowcast has picked up from recent estimates.