US: Atlanta Fed's GDPNow stands little changed at 6% for Q3 after latest US data

The real gross domestic product (GDP) in the United States is expected to grow by 6% in the third quarter of 2021, down from 6.1% on August 5, the Federal Reserve Bank of Atlanta's latest GDPNow report showed on Friday.

"After this morning's releases of the employment situation report by the US Bureau of Labor Statistics and the wholesale trade report from the US Census Bureau, a decrease in the nowcast of third-quarter real gross private domestic investment growth from 26.5% to 25.2% was partly offset by increases in the nowcasts of third-quarter real personal consumption expenditures growth and third-quarter real government spending growth from 3.8% and 2.8%, respectively, to 3.9% and 3.3%, respectively," the Atlanta Fed explained in its publication.

Market reaction

The US Dollar Index largely ignored this report and was last seen rising 0.6% on the day at 92.80.