The Federal Reserve Bank of Atlanta’s GDPNow model on 19 August lowered its estimate for seasonally adjusted annualised US real-GDP growth in the third quarter to 2.3%, down from 2.5% four days earlier. The Atlanta Fed said the cut followed the US Census Bureau’s latest housing-starts report, which prompted the model’s projection for real residential investment to swing from 1.1% growth to a 5.9% contraction. The revision adds to signs of cooling momentum after recent data releases, though the Citi US Economic Surprise Index remains marginally positive. GDPNow is a mechanical nowcasting tool that updates several times a month ahead of the Bureau of Economic Analysis’ official GDP release; its figures are not an official forecast of the Federal Reserve.