US GDP up next at the bottom of the hour

What's expected?

  • Q3 GDP 1.6% exp vs 3.9% in Q2
  • Sales 2.8% exp vs 3.9% prior
  • Consumer spending 3.3% exp. 3.6% prior
  • Core PCE prices 1.4% exp vs 1.9% prior

Last night I mused that the Fed may have given us a clue about today's GDP numbers purely by saying nothing different in their statement. I'm probably clutching at many straws but it would be hard for them to pump Dec for hikes, and the economy ticking over, only to have growth fall off a cliff the very next day

The Atlanta Fed's GDP Now rose to 1.1% yesterday, from 0.8% the day before

Atlanta Fed's GDP Now

If I had to pick a side I would say that the number should be close to, or maybe decently above expectations and that a big downside miss is off the cards. The Fed are going to look mighty foolish if we do see a big miss