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Atlanta Fed GDPNow Higher Again, Tracking 5.9% For Q3

  • The Atlanta Fed GDPNow tracker for Q3 real GDP growth has been revised higher yet again, to 5.91% from 5.76% on Aug 16.
  • The driver over the past week has been an upward revision to gross private domestic investment, seen at 12.3% from 11.4% previously.
  • It’s clearly still early days for the Q3 tracker, but if accurate, it would follow the 2.2% averaged through 1H23 and, whilst still technically the strongest since 4Q21, prior to the post-pandemic reopening it was last seen stronger in 2003.

Source: Atlanta Fed

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