Atlanta Fed's GDPNow for third quarter of 2019 rises to 2.2% from 1.9%

According to the latest GDPNow report published by the Federal Reserve Bank of Atlanta, the real GDP in the US is expected to expand by 2.2% in the third quarter of the year compared to 1.9% announced last week.

"An increase in the nowcast of third-quarter real personal consumption expenditures growth from 2.7 percent to 3.4 percent after this morning’s retail sales release from the U.S. Census Bureau was partly offset by a decline in the nowcast of third-quarter real gross private domestic investment growth from 0.5 percent to -0.5 percent after the retail sales and inventories releases from the Census Bureau and the industrial production report from the Federal Reserve Board of Governors," Atlanta Fed explained in its press release.