The Atlanta Federal Reserve released its preliminary estimate of third-quarter GDP growth. It expects growth of 2.8% in the third quarter.
In their own words:
The GDPNow model’s preliminary estimate of real GDP growth (seasonally adjusted annual rate) in Q3 2024 is 2.8 percent On July 26. The preliminary estimate of real GDP growth in the second quarter released by the U.S. Bureau of Economic Analysis on July 25 was 2.8%, about 0.2 percentage points higher than the final real GDP model now released on July 24.
The next update to GDPNow is: Thursday, August 1Please see the Release Dates tab below for a list of upcoming releases.
For the second quarter, the Atlanta Fed forecast growth of 2.6%. The preliminary estimate for GDP growth came out yesterday at 2.8%. The median estimate of economists polled by Reuters was 2.0%. So the Atlanta Fed model is worthy of praise.
Atlanta Fed’s third-quarter GDP growth estimate was 2.8%