The Federal Reserve Bank of Atlanta’s GDPNow model has maintained a steady growth forecast for the United States economy in the third quarter of 2024. The reading, which was updated on August 8, 2024, remains at 2.9%—unchanged from the previous forecast.This consistent projection marks a period of stability in the economic outlook, mirroring earlier expectations of moderate but sustained growth. The GDPNow model, which provides a “nowcast” of the official GDP growth rate before its official release, has been closely watched by market analysts and economic policymakers.Given the steady 2.9% rate, the forecast indicates a continued positive trajectory for the U.S. economy as it navigates through various domestic and international challenges. This latest update will likely play a critical role in shaping fiscal and monetary policy decisions in the upcoming quarters.The material has been provided by InstaForex Company – www.instaforex.com
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