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Atlanta Fed GDPNow Doesn’t See Lift From Wholesale Sales Beat

  • The Atlanta Fed GDPNow was unrevised in the Q4 estimate at 2.1%, keeping to yesterday's upward revision from 1.2% in the prior week's update (in the still early days of the current vintage).
  • Wholesale sales may have come in notably stronger than expected in September earlier today (2.2% M/M vs cons 0.9%) but the decent momentum heading into Q4 hasn't carried over, with real gross private domestic investment growth revised marginally lower from -1.0% to -1.1%.

Source: Atlanta Fed

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