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Q3 GDP Tracking: Moving on up!


From BofA: Overall, the data flow since our last weekly pushed up our 3Q US GDP tracking estimate from 2.8% to 3.7% q/q saar. [Sept 29th estimate]
emphasis addedFrom Goldman: [We] boosted our Q3 GDP tracking estimate by 0.3pp to 3.7% (qoq ar). Our domestic final sales growth forecast stands at +2.4%. [Oct 5th 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 October 5, unchanged from October 2 after rounding. After recent releases from the US Census Bureau, the Bureau of Economic Analysis, and the Institute for Supply Management, a decrease in the nowcast of third-quarter real personal consumption expenditures growth from 3.8 percent to 3.7 percent was offset by an increase in the nowcast of third-quarter real gross private domestic investment growth from 5.4 percent to 5.9 percent. [Oct 5th estimate]

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