The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2014 was 3.1 percent on January 2, up from 3.0 percent on December 23. The nowcast for fourth-quarter real investment growth in nonresidential structures increased from 2.5 percent to 3.5 percent following this morning's construction spending report from the U.S. Census Bureau.