Atlanta Fed Releases Latest 3rd Quarter GDP Estimate – a Whopping 4.6%!!

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2018 is 4.6 percent on August 24, up from 4.3 percent on August 16. After yesterday’s releases on new-home sales and costs from the U.S. Census Bureau, the nowcast of third-quarter real residential investment growth increased from -4.5 percent to -1.1 percent. After this morning’s advance durable manufacturing report from the Census Bureau, the nowcast of third-quarter real nonresidential equipment investment growth increased from 6.4 percent to 7.5 percent and the nowcast of the contribution of inventory investment to third-quarter real GDP growth increased from 1.92 percentage points to 2.03 percentage points.

Basically what all that smart stuff means is,

AMERICA IS COMING IN IT'S COLLECTIVE PANTS!

GO READ THE WHOLE THING.