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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 real GDP growth tracker for Q3 was revised down again today to 2.0% annualized from 2.44% yesterday and 2.9% in the Aug 8 update.
- Today's decline is driven by the slide in housing starts, with gross private investment growth now seen at -2.4% vs 0.0% yesterday and 2.8% on Aug 8.
- It would see a pullback from GDP growth currently estimated at 2.8% in Q2, or an average 2.1% in 1H24 after 4.1% in 2H23.
- It's still obviously early days for Q3 but latest contributions see consumer spending adding a strong 2.0pps vs the 1.6pps in Q2 and average 1.3pps in 1H24 after the 2.15 in 2H23.
- However, residential investment is now seen dragging -0.5pp in Q3 after the -0.1pp in Q2, for what would be the largest quarterly drag since 4Q22.
- That adds to changes in inventories offering the main expected sequential drag relative to Q2, -0.3pps as the volatile category swings from a 0.8pp boost in Q2 prior to which it dragged -0.4pps 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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