Unchanged from August 2 estimate
The Atlanta Fed is out with its latest GDP estimate for 3Q. They see third-quarter GDP remaining at 1.9%. That is the same as their estimate back on August 2. In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2019 is 1.9 percent on August 8, unchanged from August 2. Slight declines in the nowcasts of the contributions of consumer spending and nonresidential equipment investment to third-quarter real GDP growth following last Friday's light vehicle sales release from the U.S. Bureau of Economic Analysis were offset by an increase in the contribution of inventory investment to third-quarter real GDP growth after that same release and this morning's wholesale trade report from the U.S. Census Bureau.
The next estimate will be released on August 15.
The New York Fed will release their most recent estimate for 3Q growth tomorrow. Last Friday they saw 3Q growth at 1.6% which was down sharply from 2.21% in the July 26 week.
