Atlanta Fed's GDPNow unchanged at 1% for fourth quarter

According to the latest GDPNow report published by the Federal Reserve Bank of Atlanta, the real gross domestic product (GDP) in the United States (US) following today's macroeconomic data releases expected to expand by 1% in the last quarter of the year.

"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2019 is 1.0% on November 8, unchanged from November 5 after rounding," Atlanta Fed said in its publication. "Following this morning's wholesale trade report from the U.S. Census Bureau, the nowcast of the contribution of inventory investment to fourth-quarter real GDP growth increased from -0.59 percentage points to -0.53 percentage points."