Atlanta Fed GDPNow cut
- Prior forecast was Sept 27
From the report:
After this morning’s Manufacturing ISM Report On Business from the
Institute for Supply Management and the construction spending report
from the U.S. Census Bureau, the nowcasts of third-quarter real personal
consumption expenditures growth and third-quarter real private
fixed-investment growth decreased from 2.6 percent and 2.8 percent,
respectively, to 2.5 percent and 1.1 percent, respectively.
The market is acting like the US is headed straight into a recession today.
Tomorrow we get US ADP employment data.