The final Nowcast estimate for 4th quarter GDP is an anticlimactic 3.9% today vs. the actual BEA estimate of 2.6%. The forecast for the first quarter is 3.1%.
Nowcast First-Quarter GDP Estimate
Note that today's GDP report did not change the Nowcast First-Quarter estimate.
Today's GDP advance announcement was weaker than expected. Some found hidden strength, others hidden weakness.
Mike "Mish" Shedlock