The Battle of U.S. GDP Forecasts

Regional Fed banks once again diverge on tracking growth estimates

The Federal Reserve Bank of Atlanta is looking for its third straight win in the battle of quarterly U.S. growth forecasts with the New York Fed. The Atlanta Fed’s gross domestic product tracker shows a 2.7 percent pace of third-quarter expansion ahead of Friday’s data from the Commerce Department, while the New York Fed’s model predicts 1.5 percent. Both banks, though, were less accurate in the two previous quarters than the median in Bloomberg’s survey of economists, who expect 2.5 percent annualized growth in the hurricane-affected period.

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