Atlanta Fed's GDPNow unchanged at 32% for Q3 after US data

The real gross domestic product (GDP) in the United States is expected to grow by 32% in the third quarter of 2020, the Federal Reserve Bank of Atlanta's latest GDPNow report showed on Friday.

"After this morning’s manufacturing report from the US Census Bureau, an increase in the nowcast of third-quarter real nonresidential equipment investment growth from 32.6% to 38.1% was offset by a decrease in the nowcast of the contribution of inventory investment to real GDP growth from 3.11 percentage points to 2.93 percentage points," the Atlanta Fed explained in its publication.

Market reaction

The US Dollar Index largely ignored this report and was last seen gaining 0.38% on a daily basis at 94.70.