Real gross domestic product (GDP) in the United States is expected to rise 28.9%, from 25.6% on August 26 in the third quarter of 2020, the Federal Reserve Bank of Atlanta’s latest report on GDPNow revealed on Friday.
Following the release of recent data from the US Census Bureau and the US Bureau of Economic Analysis, the current forecasts for real personal consumption expenditure growth in the third quarter and real gross private domestic investment growth in the third quarter have passed. from 28.1% and 15.1% to 33.8% and 22.4%, respectively, ”explained the Atlanta Fed.
“The immediate forecast of the contribution of the change in net exports to real GDP growth in the third quarter fell from 1.52 percentage point to -0.04 percentage point,” the publication continues.
The US dollar index largely ignored this report and was last seen losing 0.75% on the day to 92.29.