Atlanta Fed's GDPNow: A Real-Time GDP Growth Forecasting Model

The Atlanta Fed's GDPNow model, while not an official forecast, provides real-time projections of US GDP growth. It mimics the BEA's estimation methods, aggregating forecasts from 13 GDP subcomponents. Utilizing publicly available data and econometric techniques, GDPNow updates multiple times a weekday, generally becoming more accurate closer to the official release, but still subject to error. The model's code isn't publicly shared, but its methodology and data sources are detailed in a Fed working paper and compared against other GDP forecasting models.