I would warn that we’re still two months away from reasonable Q3 estimates but this number is certainly a pushback to the recession worries.
From the Altanta Fed:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2024 is 2.9 percent
on August 6, up from 2.5 percent on August 1. After recent releases
from the US Bureau of Labor Statistics, the US Census Bureau, the US
Bureau of Economic Analysis, and the Institute for Supply Management,
the nowcasts of third-quarter real personal consumption expenditures
growth and third-quarter real gross private domestic growth increased
from 2.6 percent and 1.6 percent, respectively, to 3.0 percent and 2.8
percent.
This article was written by Adam Button at www.forexlive.com.
