This Can't Be Good -- January 4, 2015

From GDPNow:

The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2015 is 0.7 percent on January 4, down from 1.3 percent on December 23, 2015.

The forecast for the contribution of net exports to fourth-quarter real GDP growth fell 0.1 percentage points to -0.4 percentage points on December 29 after the U.S. Census Bureau's advance report on international trade in goods.

The nowcast for real GDP growth fell 0.5 percentage points this morning following the Census Bureau's release on construction spending and the Institute for Supply Management's Manufacturing ISM Report On Business.