Atlanta Fed GDPNow Q3 tracker lowered to 1.8% from 2.1%

Atlanta Fed GDPNow cut

• Prior forecast was Sept 27

From the report:

After this morning's Manufacturing ISM Report On Business from the Institute for Supply Management and the construction spending report from the U.S. Census Bureau, the nowcasts of third-quarter real personal consumption expenditures growth and third-quarter real private fixed-investment growth decreased from 2.6 percent and 2.8 percent, respectively, to 2.5 percent and 1.1 percent, respectively.

The market is acting like the US is headed straight into a recession today.

Tomorrow we get US ADP employment data.