Atlanta Fed's GDPNow rises to 20.3% for Q3 on upbeat US data
|The real gross domestic product (GDP) in the United States is expected to expand by 20.3%, up from 19.6% on August 3rd, in the third quarter of 2020, the Federal Reserve Bank of Atlanta's latest GDPNow report showed on Wednesday.
"After yesterday's and today’s data releases by the US Bureau of Economic Analysis, the US Census Bureau, and the Institute for Supply Management, the nowcasts of third-quarter real personal consumption expenditures growth and third-quarter real gross private domestic investment growth increased from 22.4% and 11.1%, respectively, to 23.1% and 12.2%, respectively," Atlanta Fed explained in its publication.
Market reaction
The US Dollar Index edged slightly higher and was last seen gaining 0.6% on a daily basis at 92.72.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.