Thursday, September 19, 2019

Atlanta Fed GDP Now Q3 Growth Estimate: 1.9%, New York Fed Nowcast Growth +1.59%

From the Federal Reserve Bank of Atlanta:

Latest forecast: 1.9 percent — September 18, 2019

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2019 is 1.9 percent September 18, up from 1.8 percent on September 13. After yesterday's industrial production release from the Federal Reserve Board of Governors, and this morning's new residential construction report from the U.S. Census Bureau, increases in the nowcasts of third-quarter real consumer spending growth and third-quarter real private fixed investment growth were slightly offset by a decrease in the nowcast of third-quarter real net exports. 

And from the Federal Reserve Bank of New York:
Sep 13, 2019: New York Fed Staff Nowcast
  • The New York Fed Staff Nowcast stands at 1.6% for 2019:Q3 and 1.1% for 2019:Q4.
  • News from JOLTS, retail sales, CPI, PPI, and exports and imports prices releases were small, leaving the nowcast broadly unchanged.