Atlanta Fed ‘GDPNow’ Q3 Growth Rate Estimate Trend.
Source: Atlanta Fed website.

(Seoul=Yonhap Infomax) Sung Jin Kim = The US Bureau of Economic Analysis (BEA) announced on the 24th (local time) that it will release the ‘initial’ estimate for the country’s third-quarter gross domestic product (GDP) on November 23.


The revised estimate, originally scheduled for release on the 26th of this month, will now serve as the initial figure. The advance (first) estimate was canceled due to the impact of the federal government shutdown, making the second estimate the first official release.


Given that the advance estimate was initially set for September 30, the first public release of Q3 GDP is delayed by nearly two months.


The final (third) estimate, which was scheduled for November 19, will be rescheduled.


According to the Atlanta Federal Reserve’s ‘GDPNow’ model, as of the 21st, the third-quarter growth rate is projected at an annualized 4.2% quarter-on-quarter. This figure is more than double the Federal Reserve’s estimated potential growth rate of 1.8%.


The last time the US economy posted growth above 4% was in Q3 2023 (4.7%). In Q1 this year, GDP contracted by -0.6%, while Q2 saw a sharp rebound to 3.8% growth.


sjkim@yna.co.kr


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