Atlanta Fed's GDPNow for third quarter rises to 1.9% from 1.8%

Eren Sengezer FXStreet

According to the latest GDPNow report published by the Federal Reserve Bank of Atlanta, the real GDP in the US is expected to expand by 1.9% in the third quarter of the year.

"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2019 is 1.9 percent September 18, up from 1.8 percent on September 13," Atlanta Fed said in its publication.

"After yesterday's industrial production release from the Federal Reserve Board of Governors, and this morning's new residential construction report from the U.S. Census Bureau, increases in the nowcasts of third-quarter real consumer spending growth and third-quarter real private fixed investment growth were slightly offset by a decrease in the nowcast of third-quarter real net exports."

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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