Thursday, October 26, 2017

Friday: GDP

by Bill McBride on 10/26/2017 05:44:00 PM

From the Altanta Fed: GDPNow (as of Oct 26th)

The final GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2017 is 2.5 percent on October 26, down from 2.7 percent on October 25. The forecast of the contribution of inventory investment to third-quarter GDP growth declined from 1.01 percentage points to 0.80 percentage points after this morning's Advance Economic Indicators report from the U.S. Census Bureau.
emphasis added
From the NY Fed Nowcasting Report (as of Oct 20th)
The New York Fed Staff Nowcast stands at 1.5% for 2017:Q3 and 2.6% for 2017:Q4.
From Merrill Lynch: (as of Oct 26th)
the decline in inventories more than offset, lowering our 3Q GDP tracking estimate back down to 3.0% from 3.2%.
Friday:
• At 8:30 AM ET, Gross Domestic Product, 3rd quarter 2017 (Advance estimate). The consensus is that real GDP increased 2.5% annualized in Q3.

• At 10:00 AM, University of Michigan's Consumer sentiment index (final for October). The consensus is for a reading of 101.1, unchanged from the preliminary reading 101.1.