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“The initial GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2018 is 4.7 percent, ” the Federal Reserve Bank of Atlanta said on Tuesday and added:

“The advance estimate of second-quarter real GDP growth released by the U.S. Bureau of Economic Analysis on July 27 was 4.1 percent, 0.3 percentage points above the final GDPNow model nowcast released on the previous day.”