US: Atlanta Fed's GDPNow rises to 5.4% for Q4

The real gross domestic product (GDP) in the United States is expected to grow by 5.4% in the fourth quarter of 2020, compared to 3.5% on November 6th, the Federal Reserve Bank of Atlanta's latest GDPNow report showed on Tuesday. 

"After recent data releases from the US Bureau of Labor Statistics, the US Census Bureau, the US Department of the Treasury’s Bureau of the Fiscal Service and the Federal Reserve Board of Governors, an increase in the nowcast of fourth-quarter real personal consumption expenditures growth from -0.4% to 2.6% was slightly offset by a decrease in the nowcast of real gross private domestic investment growth from 28.8% to 27.4%," the publication read.

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.2% on the day at 92.45.