Atlanta Fed GDPNow estimate for Q3 stays unchanged at 4.9%

<p>The Atlanta Fed model for Q3 growth remained elevated at 4.9% after the data released today. </p><p>In their own words:</p><blockquote>The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2023 is 4.9 percent on October 5, unchanged from October 2 after rounding. After recent releases from the US Census Bureau, the Bureau of Economic Analysis, and the Institute for Supply Management, a decrease in the nowcast of third-quarter real personal consumption expenditures growth from 3.8 percent to 3.7 percent was offset by an increase in the nowcast of third-quarter real gross private domestic investment growth from 5.4 percent to 5.9 percent. </blockquote>

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