Author Archives: Menzie Chinn

GDP in Q3: Relative to Nowcasts, and Alternative Estimates

GDP surges, at 4.9%, compared to 4.3% Bloomberg consensus, and 5.4% from the Atlanta Fed’s GDPNow (It’s about a point less than the seemingly over-optimistic GDPNow of two month’s ago (8/24)). Jim’s post yesterday discusses the implications for recession calls, as well as for the macrostabilization (inflation reduction to target). Here’s a picture of where the advance estimate placed GDP, relative to nowcasts and forecasts.

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