Luke Sharrett | Bloomberg | Getty Images
Workers on the assembly line for gas turbines at the General Electric energy plant in Greenville, South Carolina.
You may not have noticed, yet the U.S. economy can be on a tear.
Or at least which’s what an economic type at the Atlanta Federal Reserve can be showing.
Based on recent economic data, the gross domestic product can be headed for a 4.5 percent annualized growth pace inside the fourth quarter, according to the Atlanta Fed’s type, called GDP right now. which would likely be a sharp pickup through the third quarter, which the government’s initial estimate pegged at a 3 percent growth rate.
The Atlanta Fed type looks at multiple, current measures of economic activity along with uses them to forecast where the overall economy can be headed.
The latest estimate for fourth-quarter GDP growth can be much faster than the 2.9 percent rate the type showed Monday, the Atlanta Fed said. The enhanced outlook came even as data on U.S. factory output eased off a 13-year high in October.
The GDP right now forecast has roughly tracked the government’s initial estimate of the U.S. economy. The Bureau of Economic Analysis will publish its next “advance” estimate on Jan. 27 for the last three months of This specific year.