Friday, August 09, 2024

Early Q3 GDP Tracking: Mid-2%

From BofA:
Next week, we will launch our 3Q GDP tracker with the July retail sales print. [August 9th update]
emphasis added
From Goldman:
We left our Q3 GDP tracking estimate unchanged at 2.6% (quarter-over-quarter annualized) and our Q3 domestic final sales forecast unchanged at +2.0%. [August 6th estimate]
And from the Altanta Fed: GDPNow
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2024 is 2.9 percent on August 8, unchanged from August 6 after rounding. After this morning's wholesale trade release from the US Census Bureau, the nowcast of third-quarter real gross private domestic investment growth increased from 2.8 percent to 2.9 percent. [August 8th estimate]

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