Atlanta Fed: GDPNow estimate for real GDP growth in Q3 ticks down to 4.3%

"The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2018 is 4.3 percent on August 9, down from 4.4 percent on August 3," the Federal Reserve Bank of Atlanta reported on Thursday.

"After this morning's wholesale trade report from the U.S. Census Bureau and this morning's Producer Price Index release from the U.S. Bureau of Labor Statistics, the nowcast of the contribution of inventory investment to third-quarter real GDP growth declined from 1.95 percentage points to 1.91 percentage points," the bank explained.