U.S. Q3 Growth Rate Estimate Revised Down to 4.3%

The real-time estimate of the U.S. Q3 growth rate has been lowered to an annualized 4.3% compared to the previous quarter. This marks a decline of 1.5 percentage points from the prior estimate, primarily due to decreased consumption and investment. The Atlanta Federal Reserve presented a 4.3% growth rate for real Gross Domestic Product (GDP) in Q3 through its GDPNow model, which was released on the 15th of the month in Korean time. The estimate on August 6 was 5.8%. The estimated growth rate for real Personal Consumption Expenditures (PCE) has been revised down from 4.1% to 2.5%, and the estimated growth rate for real private domestic investment has been adjusted from 17.9% to 15.2%. GDPNow is a model that estimates U.S. economic growth in real-time and fluctuates based on publicly available economic indicators, not official forecasts. This figure decreased from an initial estimate of 5.0% on July 30, which was raised to 6.2% on August 3, before falling back to 4.3% on August 14. The U.S. Bureau of Economic Analysis announced that the real GDP for Q2 increased by an annualized 1.5% compared to the previous quarter. The next GDPNow update from the Atlanta Fed is scheduled for the 19th in Korean time.