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The new estimate made by the Atlanta Fed’s GDPNow model indicates fractional growth in US GDP in the current quarter. A modest + 0.5% is expected in the third quarter compared to the 1.2% indicated expected on 15 October. Forecasts of third quarter real growth in personal consumption spending and third quarter real growth in gross domestic investment fell from 0.9 percent and 10.6 percent, respectively, to 0.4 percent and all. 8.4%.
GDPNow is not an official Atlanta Fed forecast, but a current estimate of real GDP growth based on available economic data for the current quarter.