The GDPNow reading has slowly been sliding after getting much fanfare from politicians when it was above 5% on shutdown-affected data. The latest reading trims another 0.1 pp from the reading as we near the first official reading (which of course is revised several times itself).
Tomorrow we get another update on the GDPNow forecast with critical readings in trade balance and wholesale inventories possibly leading to big swings.
Today’s small change comes after data on industrial production, housing starts and durable goods orders.
This article was written by Adam Button at investinglive.com.