Atlanta Fed, US third quarter Gross domestic product (GDP) updated its growth forecast. Evaluating the latest data, the Atlanta Fed’s GDP forecast model revealed that the US economy could grow at an annual rate of 5.8 percent in the third quarter, in light of yesterday’s housing starts and industrial production data. Atlanta Fed’s previous forecast for growth in the US economy was at 5 percent.
Federal Reserve (Fed)But experts say the Atlanta Fed’s GDPNow They state that the model suffers from forecast deviations, which usually occur at the beginning of the quarter, and that the forecast may become clearer with more data flow. Therefore, the forecast is expected to be revised as more economic data becomes available in the future.
