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And other forecasts and nowcasts:
Figure 1: GDP reported (bold black), CBO (blue), SPF (tan), GDPNow (light blue square), Goldman Sachs (green circle), St. Louis Fed news index (orange inverted triangle), all in bn.Ch.2017$ SAAR. Source: BEA 2023Q3 3rd release, CBO Economic Outlook Update (Dec.), Philadelphia Fed (Nov.), Atlanta Fed (12/22), NY Fed (12/22), GS (12/22), St. Louis Fed (12/22), and author’s calculations.
The forecasts seem to be overtaken by events, where Atlanta Fed and NY Fed nowcasts are substantially above forecasts.
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