GDPNow revised higher… Atlanta Fed – Commodity Research Group

October 1, 2020 by Jim Colburn Leave a Comment

Economic data released from September 26 thru today increased the Atlanta Fed’s GDPNow model estimate by +2.6 percentage points… Here is the release:

Latest estimate: 34.6 percent — October 1, 2020

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2020 is 34.6 percent on October 1, up from 32.0 percent on September 25. After recent releases from the Institute for Supply Management, the U.S. Bureau of Economic Analysis, and the U.S. Census Bureau, the nowcasts of third-quarter real gross private domestic investment growth and third-quarter real personal consumption expenditures growth increased from 38.1 percent and 34.2 percent, respectively, to 45.1 percent and 36.8 percent, respectively, while the nowcast of the contribution of change in real net exports to third-quarter real GDP growth decreased from -0.28 percentage points to -0.56 percentage points.

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

Our associates bring decades of experience to the table, as they seek to help our clients understand the markets. CRG will distill the myriad of pricing variables mentioned above into coherent research that is to-the-point and tailored to a clients hedging or pricing needs. In addition, CRG is available for consulting assignments and speaking engagements. CRG does not manage money or trade for itself.

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