Atlanta Fed's Q3 GDPNow estimate was knocked down to 2.1%
Atlanta Fed's Q3 GDPNow estimate was knocked down to 2.1% following the wholesale trade report from 2.2% previously, continuing this slippary trend: "The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2016 is 2.1 percent on October 7, down from 2.2 percent on October 5. The forecast of the contribution of inventory investment to third-quarter real GDP growth fell from 0.28 percentage points to 0.24 percentage points after this morning's wholesale trade report from the U.S. Census Bureau. The forecast of real government spending growth fell from 0.1 percent to -0.1 percent following this morning's employment release from the U.S. Bureau of Labor Statistics." The next GDPNow update is Friday, October 14. for more.