The Atlanta Fed GDP Now forecast falls to 3.4% from 3.6%

Cites yesterdays existing home sales

The most recent GDPNow forecast from the Atlanta Fed is out. and they now track GDP at 3.4% vs 3.6% in their last estimate.

As per their website:

"The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2016 is 3.4 percent on August 25, down from 3.6 percent on August 16. After yesterday's existing-home sales release from the National Association of Realtors, the forecast for third-quarter real residential investment growth declined from 1.0 percent to -2.6 percent."