The Atlanta Federal Reserve's GDPNow model has recently updated its projection for the third quarter of 2024, indicating a decrease from 2.5% to 2.0%. This latest data, reflecting the most current economic activities and trends, was released on September 3, 2024.
Analysts are closely monitoring this revised figure, as it suggests a slowdown in economic growth. The previous estimate, which had settled at 2.5%, had already shown signs of moderated expansion compared to earlier quarters.
The lower GDPNow estimate can have a ripple effect on investor confidence and market dynamics, prompting stakeholders to reassess their expectations for the U.S. economy's performance through the remainder of the year. Further updates from the Atlanta Fed will be critical in understanding whether this trend continues or if new economic developments shift the trajectory once more.
