Financial News: Atlanta Fed Lifts Q3 US GDP Growth Estimate

Atlanta Fed Lifts Q3 US GDP Growth Estimate To 2.1%

09/04/2024 - 15:45:00 (RTTNews)

(RTTNews) - The Atlanta Fed raised the U.S. GDP growth estimate for the third quarter on Wednesday, after lowering it a day earlier, citing the release of official economic data earlier in the day.

Real gross domestic product seasonally adjusted annual growth estimate, based on the Atlanta Fed's GDPNow model, was increased to 2.1 percent from <a href=https://www.rttnews.com/3472605/atlanta-fed-trims-q3-us-gdp-growth-estimate-to-2.aspx?type=useco target=_blank >2.0 percent forecast on September 3</a>.

GDPNow is a running estimate of real GDP growth based on available economic data for the current measured quarter.

"After this morning's releases from the US Census Bureau, an increase in the nowcast of third-quarter real gross private domestic investment growth from -0.6 percent to 0.0 percent was slightly offset by a decrease in the nowcast of third-quarter real personal consumption expenditures growth from 3.3 percent to 3.2 percent," the Atlanta Fed said.

The next GDPNow update is due on Monday, September 9.

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