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- US: Atlanta Fed GDPNow for Q3 declines to 2.8%
US: Atlanta Fed GDPNow for Q3 declines to 2.8%
According to the Federal Reserve Bank of Atlanta's GDPNow model, the US economy is expected to grow at an annualized rate of 2.8% in the third quarter, down slightly from 2.9% in the previous estimate.
"After recent releases from the US Bureau of Labor Statistics and the US Census Bureau, the nowcast of third-quarter real personal consumption expenditures growth decreased from 1.3% to 1.2%," the Atlanta Fed explained in its publication.
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen rising 0.65% on the day at 113.20.
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