This week has been something of a gamechanger in the mood around the US economy as several reports beat estimates. That change has been underscored by the latest update from the Atlanta Fed, whose GDPNow Q3 tracker is up to 3.9% from 3.3%.
After recent releases from the US Census Bureau, the US Bureau of
Economic Analysis, and the National Association of Realtors, a decrease
in the nowcast of third-quarter real gross private domestic investment
growth from 6.4 percent to 4.1 percent was more than offset by increases
in the nowcast of third-quarter real personal consumption expenditures
growth from 2.7 percent to 3.4 percent and the nowcast of the
contribution of net exports to third-quarter real GDP growth from 0.08
percentage points to 0.58 percentage points.
It’s still early in the quarterly cycle for Q3 but this is the highest reading so far.
This article was written by Adam Button at investinglive.com.
