Was 3.5% in it's last forecast
The Atlanta Fed GDPNow latest forecast slipped by without a mention. But for good order, the latest shows that GDP for the 3Q is down to 3.3% from 3.5% (from September 2nd). It was released earlier in the day. So be aware.
As per their website:
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2016 is 3.3 percent on September 9, down from 3.5 percent on September 2. The forecasts of third-quarter real consumer spending growth and real equipment investment growth declined from 3.5 percent to 3.4 percent and from 3.3 percent to 2.0 percent, respectively, on Tuesday after the motor vehicle sales release from the U.S. Bureau of Economic Analysis and the Non-Manufacturing ISM Report On Business. The forecast of the contribution of inventory investment to third-quarter real GDP growth decreased from 0.62 percentage points to 0.57 percentage points after this morning's wholesale trade report from the U.S. Census Bureau.
Since the inception of the 3Q estimates, the growth forecast has been as high as 3.8% and as low as 3.2%.
