Atlanta Fed GDP Now tracking rises to 20.3% from 19.6% previously
Atlanta Fed GDP Now estimate for Q3 growththe Atlanta Fed GDP Now GDP tracking model for Q3 growth rises to 20.3% from 19.6% on August 3.
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2020 is 20.3 percent on August 5, up from 19.6 percent on August 3. After yesterday's and today's data releases by the U.S. Bureau of Economic Analysis, the U.S. Census Bureau, and the Institute for Supply Management, the nowcasts of third-quarter real personal consumption expenditures growth and third-quarter real gross private domestic investment growth increased from 22.4 percent and 11.1 percent, respectively, to 23.1 percent and 12.2 percent, respectively.
The next GDPNow update is Friday, August 7. Please see the "Release Dates" tab below for a list of upcoming releases.
Last week the US reported the advanced estimate for 2nd quarter growth at -32.9%. That was a record decline. The bounce back is expected but understand volatility will likely persist as the quarter progresses.