The US Bureau of Economic Analysis will release its first estimate of the third-quarter Gross Domestic Product (GDP) on Thursday, October 26 at 12:30
GMT as we get closer to the release time, here are forecasts from economists and researchers of 10 major banks regarding the upcoming growth data. Economists expect the United States to report an annualized growth rate of 4.3 % in the third quarter of 2023 vs. the prior release of 2.1% in Q2. The US consumer will be the main driver of growth. Danske Bank We expect GDP to have grown by 3.3% QoQ AR, driven by still upbeat private consumption and structures investment.
There’s even some upside risk to our 3.9% projection if inventories fail to provide the drag that we’ve built in. There’s not really much logic, then, to the talk of a Fed pause at the upcoming meeting, and as a result, that could be just another ‘skip’, with a further hike in store for December. SocGen Real GDP growth should be close to 5% for 3Q23, which is clearly strong. Wells Fargo We forecast real GDP to expand at a 5.0% annualized rate in Q3. If realized, economic growth will be up 3.
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