Atlanta Fed GDPNow estimate for 3Q growth falls to 4.9%

The Atlanta Fed estimate for 3Q growth fell to 4.9%. The last estimate on September 8 came in at 5.6%.

In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2023 is 4.9 percent on September 14, down from 5.6 percent on September 8. After recent releases from the US Census Bureau, the US Bureau of Labor Statistics, and the US Department of the Treasury’s Bureau of the Fiscal Service, the nowcasts of third-quarter real personal consumption expenditures growth, third-quarter real gross private domestic investment growth, and third-quarter real government spending growth decreased from 4.0 percent, 11.7 percent, and 2.3 percent, respectively, to 3.5 percent, 10.6 percent, and 1.9 percent.

The next update will be on Tuesday, September 19

This article was written by Greg Michalowski at Source