The Atlanta Fed Lifts Q-3 GDP Growth View to 5%

The Atlanta Fed Lifts Q-3 GDP Growth View to 5%

The Atlanta Fed Lifts Q-3 GDP Growth View to 5%

The US economy is growing at a 5.0% annualized rate in Q-3 following the latest data on construction spending and manufacturing activity, the Atlanta Federal Reserve’s most-recent GDPNow forecast model showed.

That is faster than the 4.7% pace calculated by the regional Fed’s forecast program Tuesday.

The Atlanta Fed’s program increased its projection on consumer spending growth in the current Quarter to 3.4% from 3.1 %, and its estimate on private fixed investment growth to 5.8% from 5.2%.

Earlier Wednesday, the US Commerce Department said construction spending fell 1.1% in June, which was the biggest decliner since April 2017, but the reading for May was adjusted higher to show a 1.3% increase from an earlier 0.4% gainer.

The Institute for Supply Management said its gauge on national factory activity slipped to 58.1 in July from 60.2 in June. A reading above 50 signals expansion in the manufacturing sector.

MAGA

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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