Atlanta Fed GDPNow growth estimate for Q3 at 2.9% unchanged from its prior estimate

The Atlanta Fed GDPNow growth estimate for Q3 remained unchanged at 2.9%. It is still early in the quarter but grow remains solid:

In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2024 is 2.9 percent on August 8, unchanged from August 6 after rounding. After this morning’s wholesale trade release from the US Census Bureau, the nowcast of third-quarter real gross private domestic investment growth increased from 2.8 percent to 2.9 percent.

The next GDPNow update is Thursday, August 15. Please see the “Release Dates” tab below for a list of upcoming releases.

This article was written by Greg Michalowski at www.forexlive.com.