Q3 GDP Forecasts: Under 2%

From Merrill Lynch: Weak inventories data edged down 3Q GDP tracking by a tenth to 1.5% qoq saar . [Oct 18 estimate] emphasis added From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 1.9% for 2019:Q3 and 1.1% for 2019:Q4. [Oct 18 estimate] And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2019 is 1.8 percent on October 17 , unchanged from October 16. [Oct 17 estimate] CR Note: These estimates suggest real GDP growth will be under 2.0% annualized in Q3....(read more)

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