Following a series of data of late, the US Atlanta Fed GDPNow Q3 has arrived as follows: 2.2% (prev 2.0%).
Latest forecast: 2.2 percent “” August 1, 2019
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2019 is 2.2 percent on August 1, up from 2.0 percent on July 30. After this morning’s Manufacturing ISM Report On Business from the Institute for Supply Management, and this morning’s construction spending report from the U.S. Census Bureau, the nowcasts of third-quarter real personal consumption expenditures growth and third-quarter real private fixed investment growth increased from 2.6 percent and 3.3 percent, respectively, to 3.0 percent and 4.0 percent, respectively.
The next GDPNow update is Friday, August 2.
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