Strong US growth expected for Q3 GDP report despite hurricanes, with estimates similar to Q2.

From Investing.com: 2024-10-23 07:27:00

Two hurricanes in the US Southeast may impact the upcoming third-quarter GDP report, but the nowcasts suggest a minimal effect. The median growth estimate for Q3 is +3.0%, similar to Q2. The economic cost of hurricanes Milton and Helene for the 2024 season could be around $50 billion. Despite a recent rise in jobless claims attributed to the storms, the GDP nowcasts seem unaffected. Analysts are anticipating a slight increase in claims for the current week, but the overall outlook remains positive according to the revised IMF economic forecast, predicting a 2.8% growth in 2024.



Read more at Investing.com: Strong US Growth Still Expected for Next Week’s Q3 GDP Report