Atlanta Fed nowcast just jumped to +5.1% for Q3 GDP. If that holds, it's wildly stronger than most people expected.
Worth watching because it completely contradicts the recession calls that were popular earlier this year. Economy keeps surprising to the upside.
Reminder: the Fed's nowcast updates in real-time as data comes in, so it's more dynamic than traditional forecasts. Not perfect, but usually directionally useful.
If we actually print 5%+ growth this quarter, a lot of narratives will need updating.
Worth watching because it completely contradicts the recession calls that were popular earlier this year. Economy keeps surprising to the upside.
Reminder: the Fed's nowcast updates in real-time as data comes in, so it's more dynamic than traditional forecasts. Not perfect, but usually directionally useful.
If we actually print 5%+ growth this quarter, a lot of narratives will need updating.