FX.co ★ Atlanta Fed GDPNow Index Posts Substantial Decline in Q3 2024

The Atlanta Federal Reserve’s GDPNow index has recorded a significant dip for the third quarter of 2024, with the indicator dropping from its previous position of 3.1% to the current level of 2.5%. This adjustment was officially updated on October 1, 2024, bringing renewed scrutiny and speculation on the economic trajectory of the United States.

The earlier indicator of 3.1% for Q3 2024 had painted a relatively optimistic picture of economic growth. However, the recent data now reflecting a 2.5% growth rate marks a noticeable slowdown. Analysts and market watchers are keenly dissecting this shift, looking for underlying causes and future implications.

The GDPNow model is a real-time tracker of the nation's economy, providing a timely estimate of GDP growth. The downward adjustment points towards a potential cooling in economic activities and has raised questions about the sustainability of growth drivers in an uncertain global environment. As stakeholders evaluate these fresh metrics, all eyes will be on fiscal policies and external economic conditions influencing this trend.