US: Atlanta Fed's GDPNow edges higher to 36.2% for Q3 after US data

Eren Sengezer FXStreet

The real gross domestic product (GDP) in the United States is expected to grow by 36.2% in the third quarter of 2020, up modestly from 35.3% on October 20th, the Federal Reserve Bank of Atlanta's latest GDPNow report showed on Tuesday.

"After recent data releases by the National Association of Realtors and the US Census Bureau, the nowcast of third-quarter real gross private domestic investment growth increased from 47.8% to 53.8%," the Atlanta Fed explained in its publication.

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.2% on the day at 92.90.

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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