October 01, 2024 at 04:47PM
The GDP tracker was boosted in the prior release but it’s been reeled back in.
“After this morning’s construction spending release from the US Census
Bureau and the Manufacturing ISM Report On Business from the Institute
for Supply Management, the nowcasts of third-quarter real personal
consumption expenditures growth and third-quarter real gross private
domestic growth decreased from 3.3 percent and 2.9 percent,
respectively, to 3.0 percent and 0.8 percent.”
We’re creeping close to the Q3 release so this should take on more weight.
This article was written by Adam Button at www.forexlive.com.
Atlanta Fed Q3 GDPNow cut to 2.5% from 3.1%