Dips to 1.7% from the prior report
The Atlanta Fed has updated its GDP tracker for third-quarter growth and now sees GDP at 1.7% versus 1.8% from it’s last report.
In their own words:
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2019 is 1.7 percent on October 9, down from 1.8 percent on October 4. After this morning’s wholesale trade report from the U.S. Census Bureau, the nowcast of the contribution of inventory investment to third-quarter real GDP growth decreased from 0.12 percentage points to 0.01 percentage points.
The next report will be on October 16.