Next Thursday is the advance look at Q3 US GDP
The Atlanta Fed Q3 GDPNow tracking estimate is down to +0.5% annualized ahead of next week's advanced release. That's the lowest it's been and well below the 3.8% consensus.
After recent releases from the US Census Bureau and the Federal Reserve Board of Governors, the nowcasts of third-quarter real personal consumption expenditures growth and third-quarter real gross private domestic investment growth decreased from 0.9 percent and 10.6 percent, respectively, to 0.4 percent and 8.4 percent, respectively
A 0.5% reading would be a shock but I'm not sure it would upend the themes in markets. Most economists would simply push growth back further. We'll be on high alert for next week's release.
