Atlanta Fed's GDPNow slumped to 0.3% for Q4 from 1%

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 this week's macroeconomic data releases is expected to expand by 0.3% in the last quarter of the year.

"After this morning's retail trade releases from the U.S. Census Bureau, and this morning's industrial production report from the Federal Reserve Board of Governors, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private domestic investment growth decreased from 2.1 percent and -2.3 percent, respectively, to 1.7 percent and -4.4 percent, respectively," the Atlanta Fed explained in its publication.