Atlanta Fed's GDPNow rises to 3.4% from 3.2% for Q4

"The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2017 is 3.4 percent on November 17, up from 3.2 percent on November 15," the Federal Reserve Bank of Atlanta announced on Friday.

Key quotes

The forecast of real GDP growth increased 0.3 percentage points to 3.5 percent after yesterday's industrial production release from the Federal Reserve Board of Governors.

The forecast of real residential investment growth declined from 4.6 percent to 2.2 percent after this morning's new residential construction report from the U.S. Census Bureau.