by Mike ‘Mish’ Shedlock
The Atlanta Fed GDPNow Model ticked up slightly this week in response to economic data.
In contrast, economic data this week was slightly negative to the FRBNY Nowcast model.
GDPNow 3rd Quarter Forecast: 2.0% — October 19, 2016
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2016 is 2.0 percent on October 19, up from 1.9 percent on October 14. The forecast of third-quarter real federal government expenditures growth increased from -0.1 percent to 0.3 percent after Friday afternoon’s Monthly Treasury Statement from the Bureau of the Fiscal Service.