Not much data has been released in the past 10 days so it’s no surprise to see GDPNow flat.
“The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2024 is 2.0 percent
on August 26, unchanged from August 16 after rounding. After recent
releases from the US Census Bureau and the National Association of
Realtors, the nowcast of the contribution of the change in real net
exports to third-quarter real GDP growth decreased from -0.28 percentage
points to -0.30 percentage points”
The model is in-line with the consensus at the moment but it’s still very early for Q3 GDP.
This article was written by Adam Button at www.forexlive.com.
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