The next release won't be until next Friday
This came out earlier, but the Atlanta Fed GDPNow estimate for 3Q GDP came in at 4.3%, that was unchanged from yesterday's report.
In their own words:
"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2018 is 4.3 percent on August 16, unchanged from August 15 after rounding. After this morning's new residential construction report from the U.S. Census Bureau, the nowcast of third-quarter real residential investment growth decreased from -3.3 percent to -4.8 percent."
We won't have another estimate from Atlanta until next Friday, August 24.
The NY Fed will release their estimate for GDP tomorrow. The Nowcast estimate last week came in at 2.57% -well below the Atlanta Fed.
Guess which one Larry Kudlow quoted today at the cabinet meeting? HMMMMM
