US: Atlanta Fed GDP for the third quarter falls to 1.4%

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According to the Federal Reserve Bank of Atlanta’s GDPNow model, The US economy is expected to grow at an annualized rate of 1.4% in the third quarter, down from 2.6% in the previous estimate.

“Following recent releases from the US Census Bureau, the US Bureau of Labor Statistics, the US Bureau of Economic Analysis, and the Institute for Supply Management, current growth forecasts Third-quarter real personal consumption spending growth, Third-quarter real private gross domestic investment growth, and Third-quarter real government spending growth are down from 3. Third-quarter real government spending growth is down from 3.1% , -3.5% and 1.7%, respectively, to 1.7%, -5.8 and 1.3, respectively, while the current forecast of the contribution of the change in real net exports to real GDP growth in the third quarter increased from 0.82 percentage points to 1.09 percentage points,” the Atlanta Fed explained in its publication.

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market reaction

This report does not seem to have a significant impact on the behavior of the dollar against its rivals. At the time of writing, the dollar index posted small daily losses and traded at 110.17.

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Source: Fx Street

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