Atlanta Fed GDPNow estimate for 3Q growth rises to 2.9% from 2.7%

The Atlanta Fed’s GDPNow model of third-quarter growth rose to 2.9%, up from 2.7% in today’s data. This is the highest growth forecast for the third quarter. It is also up sharply from the 0.2 percent reached on September 21. In their own words: The GDPNow model estimate of real GDP growth (seasonally adjusted annual rate) in the third quarter of 2022 is 2.9 percent as of Oct. 7, up from 2.7 percent on Oct. 5 October Following this morning’s employment report from the US Bureau of Labor Statistics and the US Census Bureau’s wholesale trade report, there was real growth in personal consumption expenditures and real growth in gross private domestic investment in the third quarter. increased from 1.1% to 1.3% and from -3.6% to -3. %. The next issue is due on October 1 th

Michael Cooper

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