US: Atlanta Fed's GDPNow rises to 6.2% for Q3 after latest US data

The real gross domestic product (GDP) in the United States is expected to grow by 6.2% in the third quarter of 2021, up from 6% on August 6, the Federal Reserve Bank of Atlanta's latest GDPNow report showed on Tuesday.

"After recent releases from the US Bureau of Labor Statistics, the US Department of the Treasury's Bureau of the Fiscal Service, the US Census Bureau and the Federal Reserve Board of Governors, an increase in the nowcast of third-quarter real gross private domestic investment growth from 25.2% to 29.4% was partly offset by a decrease in the nowcast of third-quarter real personal consumption expenditures from 3.9% to 3.3%," Atlanta Fed explained in its publication.

Market reaction

This report failed to trigger a significant market reaction and the US Dollar Index was last seen rising 0.55% on a daily basis at 93.12.