Atlanta Fed GDPNow slashed to 2.three% from three.2%

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I flagged that there was going to be a drop on this tracker on account of gentle stock and commerce information at present and now we get the numbers because it’s minimize to 2.three% from three.2%.

The Atlanta Fed stated:

“After this morning’s Advance Financial Indicators launch from the US
Census Bureau, the nowcast of fourth-quarter actual gross personal home
funding development decreased from Zero.1 p.c to -Zero.9 p.c, whereas the
nowcast of the contribution of web exports to fourth-quarter actual GDP
development fell from Zero.10 share factors to -Zero.61 share factors.”

The consensus for tomorrow’s report is 2.6% however there are draw back dangers to that now, that are draw back dangers to the US greenback. Given these skews, I might peg GDP at 2.2% tomorrow.

This text was written by Adam Button at www.ubaidahsan.com.

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