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Q3 GDP Tracking: Around 3%


From BofA: Overall, the data flow since our last report pushed our 3Q US GDP tracking down two-tenths to 2.9% q/q saar and 2Q is down two-tenths as well to 2.3%. [Sept 15th estimate]
emphasis addedFrom Goldman: We boosted our Q3 GDP tracking estimate by one tenth to +3.2% (qoq ar) and our domestic final sales growth forecast by the same amount to +2.9%. [Sept 14th estimate]And from the Altanta Fed: GDPNowThe GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2023 is 4.9 percent on September 14, down from 5.6 percent on September 8. After recent releases from the US Census Bureau, the US Bureau of Labor Statistics, and the US Department of the Treasury’s Bureau of the Fiscal Service, the nowcasts of third-quarter real personal consumption expenditures growth, third-quarter real gross private domestic investment growth, and third-quarter real government spending growth decreased from 4.0 percent, 11.7 percent, and 2.3 percent, respectively, to 3.5 percent, 10.6 percent, and 1.9 percent. [Sept 14th estimate]

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