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“The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2018 is 4.3 percent on August 15, unchanged from August 9,” the Federal Reserve Bank of Atlanta reported on Wednesday.

Key quotes

  • After this morning’s retail sales report from the U.S. Census Bureau, the nowcast of third-quarter real personal consumption expenditures growth increased from 2.9 percent to 3.1 percent.
  • This increase was offset by a decline in the nowcast of third-quarter real nonresidential structures investment growth from 3.0 percent to -1.6 percent after this morning’s industrial production release from the Federal Reserve Board of Governors.