GDPNow and Nowcast 4th-Quarter GDP Estimates Near Convergence: 2.7% vs. 2.6%
GDPNow vs Nowcast
Last quarter we saw gaps of 2 percentage points between GDPNow and Nowcast. The spread is now 0.1 percentage point.
One potential problems with both reports is lack of economic data. Thanks to the government shutdown, workers did not produces dozens of reports. Today, the New Home Sales report was skipped for the second month.
Mike "Mish" Shedlock