The real gross domestic product (GDP) in the United States is expected to grow 5.4% in the fourth quarter of 2020, compared with 3.5% on Nov. 6, the latest GDPNow report from the Federal Reserve Bank of Atlanta showed on Tuesday.
“Following the release of recent data from the US Bureau of Labor Statistics, the US Census Bureau, the US Department of the Treasury Office of Fiscal Service, and the US Board of Governors the Federal Reserve, an increase in the current forecast of real personal consumption spending growth for the fourth quarter from -0.4% to 2.6% was slightly offset by a decrease in the immediate forecast of growth of real gross private domestic investment of 28.8 % to 27.4%, “the post reads.
Market reaction
The US Dollar Index did not show an immediate reaction to this report and was last seen shedding 0.2% on the day at 92.45.
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