Atlanta Fed's GDPNow unchanged at 3.9% for Q4

"The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2017 is 3.3 percent on December 19, unchanged from December 14," the Federal Reserve Bank of Atlanta announced on Tuesday.

The forecast of fourth-quarter real GDP growth fell to 3.1 percent after Friday's industrial production and capacity utilization release from the Federal Reserve Board of Governors but rebounded back to 3.3 percent after this morning's new residential construction release from the U.S Census Bureau.

The forecast of fourth-quarter real residential investment growth increased from 4.8 percent to 8.2 percent after the construction release.