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Q3 GDP Forecasts: Under 2%

Summary:
From Merrill Lynch: Weak inventories data edged down 3Q GDP tracking by a tenth to 1.5% qoq saar. [Oct 18 estimate]emphasis addedFrom the NY Fed Nowcasting ReportThe New York Fed Staff Nowcast stands at 1.9% for 2019:Q3 and 1.1% for 2019:Q4. [Oct 18 estimate]And from the Altanta Fed: GDPNowThe GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2019 is 1.8 percent on October 17, unchanged from October 16. [Oct 17 estimate]CR Note: These estimates suggest real GDP growth will be under 2.0% annualized in Q3.

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From Merrill Lynch:
Weak inventories data edged down 3Q GDP tracking by a tenth to 1.5% qoq saar. [Oct 18 estimate]
emphasis added
From the NY Fed Nowcasting Report
The New York Fed Staff Nowcast stands at 1.9% for 2019:Q3 and 1.1% for 2019:Q4. [Oct 18 estimate]
And from the Altanta Fed: GDPNow
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2019 is 1.8 percent on October 17, unchanged from October 16. [Oct 17 estimate]
CR Note: These estimates suggest real GDP growth will be under 2.0% annualized in Q3.

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