Latest News

Q3 GDP Tracking: Close to 1%


by Calculated Risk on 9/16/2022 01:31:00 PM

From BofA:

On net, the data on retail trade and IP helped push our 3Q US GDP tracking estimate lower by 0.3pp to 0.8% qoq saar. Activity appears to be rebounding in the second half of the year off its first-half decline, but not by much. [September 16th estimate]emphasis added

From Goldman:

We left our Q3 GDP tracking estimate unchanged at +1.1% (qoq ar). [September 15th estimate]

And from the Altanta Fed: GDPNow

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2022 is 0.5 percent on September 15, down from 1.3 percent on September 9. After this week’s releases from the US Department of the Treasury’s Bureau of the Fiscal Service, the US Bureau of Labor Statistics, the US Census Bureau, and the Federal Reserve Board of Governors, decreases in the nowcasts of third-quarter real personal consumption expenditures growth and third-quarter real gross private domestic investment growth from 1.7 percent and -6.1 percent, respectively, to 0.4 percent and -6.4 percent, respectively, was slightly offset by an increase in the nowcast of third-quarter real government spending growth from 1.3 percent to 2.0 percent.[September 15th estimate]

The Margin: Elon Musk’s ex sells photos and mementos from their college days for $165,268

Previous article

The Fed: The Fed is ready to tell us how much ‘pain’ the economy will suffer. It still won’t hint at recession though.

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News