Atlanta Fed: GDPNow estimate for real GDP growth in Q3 rises to 4.6% from 4.3%

Eren Sengezer FXStreet

"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2018 is 4.6 percent on August 24, up from 4.3 percent on August 16," the Federal Reserve Bank of Atlanta announced on Friday.

Key quotes

"After yesterday’s releases on new-home sales and costs from the U.S. Census Bureau, the nowcast of third-quarter real residential investment growth increased from -4.5 percent to -1.1 percent."

"After this morning’s advance durable manufacturing report from the Census Bureau, the nowcast of third-quarter real nonresidential equipment investment growth increased from 6.4 percent to 7.5 percent and the nowcast of the contribution of inventory investment to third-quarter real GDP growth increased from 1.92 percentage points to 2.03 percentage points."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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