Atlanta Fed GDP estimate for 3Q
The Atlanta Fed GDPNow growth model for 3Q growth ticked up to 2.9% from 2.7% last after today’s data. That is the highest growth estimate for the 3rd quarter. It is also up sharply from 0.2% reached on September 21.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2022 is 2.9 percent on October 7, up from 2.7 percent on October 5. After this morning’s employment situation report by the US Bureau of Labor Statistics and the wholesale trade report from the US Census Bureau, the nowcasts of third-quarter real personal consumption expenditures growth and third-quarter real gross private domestic investment growth increased from 1.1 percent and -3.6 percent, respectively, to 1.3 percent and -3.4 percent, respectively.
The next release will be until October 14
