Atlanta Fed: GDPNow model forecast for real GDP growth in Q3 eases to 2.9%

"The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2017 is 2.9 percent on September 6, down from 3.2 percent on September 1," the Federal Reserve Bank of Atlanta said on Wednesday.

Key quotes:

•  The forecast of third-quarter real consumer spending growth declined from 3.0 percent to 2.7 percent after yesterday's light vehicle sales release from the U.S. Bureau of Economic Analysis (BEA).
• The forecast of the contribution of net exports to third-quarter real GDP growth increased from -0.24 percentage points to -0.14 percentage points after this morning's international trade release from the U.S. Census Bureau and the BEA.