Atlanta Fed GDP now rises
The Atlanta Fed estimate for Q3 growth rose to 6.2% from 6.0% according to their economic model. In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2021 is 6.2percent on August 17, up from 6.0 percent on August 6. After recent releases from the U.S. Bureau of Labor Statistics, the U.S. Department of the Treasury’s Bureau of the Fiscal Service, the U.S. Census Bureau, and the Federal Reserve Board of Governors, an increase in the nowcast of third-quarter real gross private domestic investment growth from 25.2 percent to 29.4 percent was partly offset by a decrease in the nowcast of third-quarter real personal consumption expenditures from 3.9 percent to 3.3 percent.
The next GDPNow update is Wednesday, August 18. Please see the “Release Dates” tab below for a list of upcoming releases.