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“The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2018 is 2.6 percent on November 29, up from 2.5 percent on November 21,” the Federal Reserve Bank of Atlanta reported on Thursday.

Key quotes

“The nowcast of fourth-quarter real personal consumption expenditures growth increased from 2.6 percent to 3.2 percent after this morning’s personal income and outlays release from the U.S. Bureau of Economic Analysis.”

“This increase was partly offset by a decrease in the nowcast of fourth-quarter real gross private domestic investment growth from 3.7 percent to 2.5 percent and a decrease in the nowcast of the contribution of net exports to fourth-quarter real GDP growth from -0.32 percentage points to -0.39 percentage points.”