The Atlanta Fed's GDPNow tracker did a good job foreshadowing a weak Q4 GDP reading and now it's pointing in the opposite direction.
The estimate was nudged further higher today to 8.7% from 8.6%.
"After this morning’s wholesale trade release from the US Census Bureau, the nowcast of the contribution of inventory investment to fourth-quarter real GDP growth increased from 1.51 percentage points to 1.59 percentage points," the report said.
We're still months away from the first reading on Q4 but all indications are for a nice rebound, whether it's 5% or 9%.
