August 10, 2022 17:17 GMT
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- The Atlanta Fed GDPNow was revised up from 1.45 to 2.45% for Q3 after wholesale trade and CPI, the highest in a clearly limited run of updates.
- That said most of the increase came from re-jigged estimates after Friday’s payrolls with the last published estimate following the full international trade report.
- It follows the real GDP of -1.6% in Q1 and -0.9% in Q2 (all SAAR), currently helped by a bounce in consumption seen adding +1.8pps to quarterly growth after +0.7pps in Q2 along with heavy moderation in the drag from inventories (-0.5pps from -2.0pps in Q2).
Source: Atlanta Fed