Atlanta Fed's GDPNow for third quarter fell to 1.7% from 1.8%

According to the latest GDPNow report published by the Federal Reserve Bank of Atlanta, the real gross domestic product (GDP) in the United States (US) is expected to expand by 1.7% in the third quarter of the year, down from 1.8% forecast on October 24th. 

"After this morning's Advance Economic Indicators report from the U.S. Census Bureau, the nowcast of third-quarter real gross private domestic investment growth decreased from 0.0 percent to -1.3 percent, and the nowcast of the contribution of net exports to third-quarter real GDP growth increased from -0.41 percentage points to -0.26 percentage points," Atlanta Fed explained in its publication.