Atlanta Fed’s GDPNow for third quarter ticked down to 1.7%
According to the latest GDPNow report published by the Federal Reserve Bank of Atlanta, the real gross domestic product (GDP) in the United States (US) is expected to expand by 1.7% in the third quarter of the year.
“The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2019 is 1.7% on October 9, down from 1.8% on October 4,” Atlanta Fed said in its publication and added:
“After this morning’s wholesale trade report from the U.S. Census Bureau, the nowcast of the contribution of inventory investment to third-quarter real GDP growth decreased from 0.12 percentage points to 0.01 percentage points.”
The US Dollar Index ignored this report and was last seen at 99.10, down 0.2% on the day.