Q4 GDP Tracking: Mid 2% Range
by Calculated Risk on 11/08/2024 11:35:00 AM
Fed Chair Powell, Nov 7, 2024:
“It’s actually remarkable how strong the U.S. economy is performing. We’re performing better than all of our global peers. Ultimately, if you look at the U.S. economy, its performance has been very good.”
From BofA:
Next week, we will initiate our 4Q GDP tracker with the October retail sales print and Oct industrial production and Sep business inventories. [Current forecast 2.0%, Nov 8th]
emphasis added
From Goldman:
We left our Q4 GDP tracking estimate unchanged at +2.6% (quarter-over-quarter annualized) and our Q4 domestic final sales forecast unchanged at +2.0% [Nov 5th estimate]
And from the Atlanta Fed: GDPNow
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2024 is 2.5 percent on November 7, up from 2.4 percent on November 5. [Nov 7th estimate]
