Last week’s GDP report showed that the U.S. economy grew by 4.1 percent in the second quarter on an annualized basis, which was the highest pace of growth since 2014. The GDP growth beat the ‘GDPNow’ forecast that predicted a 3.8 percent growth. While some of President Trump’s critic said that this is likely to be a one-time event, the latest ‘GDPNow’ forecast released by Atlanta Fed suggests that the momentum is likely to continue further.
The latest forecast which is based on the United States’ economic performance for just one month to the third quarter suggests that the GDP growth would surpass the second quarter as the economy is expected to grow at 4.7 percent in the third.
