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Friday, October 18, 2024

Q3 GDP Tracking: Just Over 3%

by Calculated Risk on 10/18/2024 12:54:00 PM

From BofA:

Since our last weekly publication, our 3Q GDP tracking estimate increased by four-tenths to 3.0% q/q saar. [Oct 18th estimate]
emphasis added
From Goldman:
On net, we lowered our Q3 GDP tracking estimate by 0.1pp to +3.1% (quarter-over-quarter annualized). [Oct 17th estimate]
And from the Atlanta Fed: GDPNow
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2024 is 3.4 percent on October 18, unchanged from October 17 after rounding. After this morning's housing starts report from the US Census Bureau, the nowcast of third-quarter real residential investment growth increased from -10.1 percent to -9.8 percent. [Oct 18th estimate]