Goldman Sachs bumped up their GDP forecast to 1.7% but the Atlanta Fed has lowered its tracker to 3.0% from 3.5%.
After this morning’s releases from the US Census Bureau and the Institute for Supply Management, the nowcasts for third-quarter real personal consumption expenditures growth and real gross private domestic investment growth declined from 2.3 percent and 6.1 percent, respectively, to 1.7 percent and 5.3 percent. These declines were partially offset by an increase in the nowcast of the contribution of inventory investment to third-quarter real GDP growth from 0.59 percentage points to 0.69 percentage points.
This article was written by Adam Button at investinglive.com.