Atlanta Fed GDPNow estimate for Q3 growth rises to 5.1% from 4.9% previously

The Atlanta Fed GDPNow model for Q3 growth rises to 5.1% from 4.9% previously.

In their own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2023 is 5.1 percent on October 10, up from 4.9 percent on October 5. After last week’s employment situation release from the US Bureau of Labor Statistics and this morning’s wholesale trade report from the US Census Bureau, the nowcasts of third-quarter real gross private domestic investment growth and third-quarter real government spending growth increased from 5.9 percent and 2.2 percent, respectively, to 6.7 percent and 3.0 percent.

The next estimate will be released on October 17

This article was written by Greg Michalowski at Source