Atlanta Fed GDPNow ticks up to 3.7% from 3.6% after housing data today

Author: Greg Michalowski | Category: Central Banks

Small rise in the forecast for 3Q GDP

The Atlanta Fed GDPNow estimate for 3Q GDP growth has picked up to 3.7% from 3.6% previously after the better than expected housing data today and current-account data.

In the Atlanta Fed's own words:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2021 is 3.7percent on September 21, up from 3.6 percent on September 16. After this morning's housing starts report from the U.S. Census Bureau, the nowcast of third-quarter real residential investment growth increased from -1.6 percent to -1.5 percent.

The hi estimate for GDP was up at 6.1%. The low was at 3.6% most recently.

Small rise in the forecast for 3Q GDP_For the full report, CLICK HERE.
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