Back on August 30, I wrote:
EJ Antoni (Heritage) is dubious about GDPNow’s (and other nowcasts) regarding Q3 growth. From X aka Twitter today:
“Latest Q3 Nowcasts: ATL 2.5% (2.0% prev) NY 2.49% (1.94 prev) STL 2.05% (1.65 prev) It’s going to take stellar consumer spending numbers for Aug and Sep to make this a reality:”
Well, here’s a picture of nowcasts as of today. GDPNow is 3.4% q/q AR for Q3, up from 3.2% on 10/9. 
The nowcast for consumption was 3.8% q/q AR. I noted that this was plausible. What does today’s nowcast indicate? 3.6%.More By This Author:Has American Economic Output Been In Decline Since 2022?Big Mac Nation And Recession Since 2022 Mid-October Reading On Business Cycle Indicators – NBER BCDC And Alternatives
