Atlanta Fed's GDPNow edges lower to 35.2% for Q3 after US data

Eren Sengezer FXStreet

The real gross domestic product (GDP) in the United States is expected to grow by 35.2% in the third quarter of 2020, down slightly from 35.3% on October 6th, the Federal Reserve Bank of Atlanta's latest GDPNow report showed on Friday.

"After this morning’s wholesale trade report from the US Census Bureau, the nowcast of third-quarter real gross private domestic investment growth decreased from 48.9% to 48.4%," the Atlanta Fed explained in its publication.

Market reaction

The US Dollar Index showed no reaction to this report and was last seen losing 0.56% on a daily basis at 93.05.

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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