by Calculated Risk on 1/05/2018 07:25:00 PM

From Merrill Lynch:

Core capital goods shipments and orders were revised down in November. The trade deficit widened more than expected. These data sliced 0.2pp from 4Q GDP tracking, bringing us down to 2.3%.
emphasis added

From the Altanta Fed: GDPNow

The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2017 is 2.7 percent on January 5, down from 3.2 percent on January 3.

From the NY Fed Nowcasting Report

The New York Fed Staff Nowcast stands at 4.0% for 2017:Q4 and 3.4% for 2018:Q1.

CR Note: This is a wide range of forecasts (from 2.3% to 4.0%).

Looking back at the October forecasts for Q3, Merrill was 3.0%, the Atlanta Fed at 2.7% and the NY Fed at 1.5% (the BEA reported 3.0% before revisions).

For Q2, the July forecasts were Merrill at 2.1%, the Atlanta Fed at 2.5%, and the NY Fed at 2.0% (the BEA initially reported 2.6%).