Good riddance to the 3Q
The 3Q US GDP came in yesterday at 1.9%. That was above the Atlanta Fed's model which called for 1.7%. The NY Fed was spot on with their final estimate of 1.9%. The bet goes to the NY Fed for that quarter.
So we are off to the 4Q now.
The Atlanta Fed has come out with their initial estimate for the 4Q. Their early estimate is for a gain of 1.5%. Not exactly lighting the world on fire (and it seems to have the attention of Pres. Trump too as he lays into the Fed again).
In their own words:
The initial GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2019 is 1.5 percent on October 31. The initial estimate of third-quarter real GDP growth released by the U.S. Bureau of Economic Analysis on October 30 was 1.9 percent, 0.2 percentage points above the final GDPNow model nowcast released on October 28.
The next estimate will be released tomorrow
