Lower GDP estimate after today's data
The Atltanta Fed GDPNow tracking estimate was cut to 3.8% from 4.4% after today's wave of US data. Trade was the main driver.
"the contribution of net exports to third-quarter real GDP growth declined from -0.72 percentage points to -1.20 percentage points after this morning's GDP release from the U.S. Bureau of Economic Analysis and this morning's advance release on international trade in goods from the U.S. Census Bureau," the Atlanta Fed said.
The consensus is just above 3.0%.
