The latest GDP tracker

The Atlanta Fed estimate was at 4.0% at the start of this month but has been steadily declining.

"The forecast of the contribution of inventory investment to third-quarter real GDP growth declined from 1.11 percentage points to 0.99 percentage points after this morning's wholesale trade report from the U.S. Census Bureau," the Atlanta Fed said.

Meanwhile, Goldman Sachs raised its Q3 estimate to 2.5% from 2.4% on the same inventory report.

In any case, we're months away from the first look at Q3.