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Q3 GDP Forecasts: Around 1%


From BofA: [W]e continue to track 3Q GDP at 0.5% q/q saar [August 26 estimate]
emphasis addedFrom Goldman: The personal consumption details were softer than our previous assumptions, and we lowered our Q3 GDP tracking estimate by 0.2pp to +1.0% (qoq ar). [August 26 estimate]And from the Altanta Fed: GDPNowThe GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2022 is 1.6 percent on August 26, up from 1.4 percent on August 24. After this morning’s releases from the US Census Bureau and the US Bureau of Economic Analysis, an increase in the nowcast of third-quarter real net exports was partially offset by a decrease in the nowcast of third-quarter real personal consumption expenditures and third-quarter real gross private domestic investment. [August 26 estimate]

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