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Atlanta Fed GDP now 1.2% vs. 1.3% previously

 |  Today Headlines

Atlanta Fed GDP now 1.2% vs. 1.3% previously

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… and to think it was 6.3% at one point

The Atlanta Fed’s GDPNow estimate for Q3 GDP is 1.2% lower than 1.3% previously. That is the lowest watermark for the quarter estimates. The high water mark rose 6.3% in August.

In his own words

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2021 is 1.2percent on October 15, compared with 1.3 percent on October 8. Following this week’s releases from the U.S. Bureau of Labor Statistics and the U.S. Census Bureau, current forecasts for third-quarter real personal consumption spending growth and domestic investment growth Real gross private sector for the third quarter decreased from 1.0 percent and 10.7 percent, respectively, to 0.9 percent and 10.6 percent, respectively.

The next release will be on October 19.

The downward movement was influenced by:

  • PCE going from 1.0 to 0.9
  • residential investment going from -6.2 to 6.4
Atlanta Fed GDP now 1.2% vs. 1.3% previously

 |  Today Headlines

Atlanta Fed GDP now 1.2% vs. 1.3% previously

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