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US GDP: Atlanta Fed Differs With New York Fed on Expectations
The Federal Reserve Banks of Atlanta and New York have released their US Q3 2020 GDP outlooks, and there is a significant difference in expectations. The Federal Reserve Bank of Atlanta expects the real gross domestic product (GDP) in the United States to rise by 32% in Q3 2020, according to its GDPNow report. On the other hand, the Federal Reserve Bank of New York is expecting only a 14.3% expansion of the US economy in the 3rd quarter of 2020, and a rise of just 5% in Q4 2020. While the Federal Reserve Bank of Atlanta is drawing its outlook from the increase in the nowcast for Q3 2020 real non-residential equipment ... (full story)