The latest tracker from the Atlanta Fed fits into the market’s narrative of falling growth. The problem would be if it falls below 0% but 1.2% is still fine.
“After this morning’s construction spending release from the US Census
Bureau and the Manufacturing ISM Report On Business from the Institute
for Supply Management, the nowcasts of fourth-quarter real personal
consumption expenditures growth and fourth-quarter real gross private
domestic investment growth decreased from 2.7 percent and -2.7 percent,
respectively, to 1.8 percent and -3.2 percent,” the release said.
The drop brings it into line with the consensus.
This article was written by Adam Button at www.forexlive.com.