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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- The Atlanta Fed’s GDPNow tracker for Q3 has been revised up to 2.5% from 2.1% in its Sep 4 update.
- The update takes into account of ISM Services, payrolls (which drove the bulk of the upward revision) and today’s wholesales report.
- It limits implied pullback from GDP growth of 2.8% in Q2, to still exceed the 2.1% averaged in 1H24 after a particularly strong 4.1% in 2H23 as the economy continues to not show signs of imminent recession.
- Latest contributions see consumer spending adding a strong 2.4pps in Q3 vs the 1.6pps in Q2 and average 1.3pps in 1H24 after the 2.15 in 2H23.
- The main outright drags are seen coming from residential investment (-0.35pps after the -0.1pp in Q2) and net exports (-0.4pps after -0.8pps).
- Changes in inventories will also offer a large drag in sequential terms, currently seen dragging -0.2pps after some volatile quarters with +0.8pp in Q2 and -0.4pp in Q1.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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