Gross domestic product for the U.S. in the fourth-quarter is on track to rise by 1.5%, according to the average of The Capital Spectator’s five econometric “nowcasts”. That’s up slightly from the 1.2% average in our previous update on November 23. The improvement isn’t surprising, considering the recent round of upbeat economic reports, including the revivals in industrial production and retail sales numbers for November. Today’s GDP nowcast for Q4 reflects the latest fourth-quarter indicators, and the prevailing wind at the moment is blowing positive, albeit modestly so.