Report published August 31, 2026
Goldman Sachs US Economic Indicators Update: Financial Conditions & Q3 GDP Tracking
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 31, 2026
- Analysis as of
- Not stated in source
Authors / editors: Abhay Duggirala (Lead Author), Jan Hatzius (US Economics Team), Ronnie Walker (US Economics Team), Jessica Rindels (US Economics Team), David Mericle (US Economics Team), Elsie Peng (US Economics Team), Alec Phillips (US Economics Team), Pierfrancesco Mei (US Economics Team)
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Goldman Sachs' proprietary US economic indicators show that financial conditions eased by 2.3bp over the past week to 98.42, led by lower BBB spreads and higher equities. Q3 GDP tracking stands at +2.7% annualized, while the preliminary August Current Activity Indicator moderated to +3.2%.
Key Takeaways
- 1.The nominal GS US Financial Conditions Index (FCI) eased by 2.3bp over the past week to 98.42, driven primarily by lower BBB credit spreads and higher equity prices.
- 2.Goldman Sachs' Q3 US GDP growth forecast stands at +2.7% quarter-over-quarter annualized.
- 3.The preliminary August Current Activity Indicator (CAI) moderated slightly to +3.2% from +3.5% in July.
Table of Contents
- Capex Tracker:
- Slack Tracker and Job Growth Tracker:
- Manufacturing Survey Tracker:
- Non-Manufacturing Survey Tracker:
- Wage Tracker:
- Monthly Wage Surveys:
- Core Inflation Tracker:
- GS Social Media Economic Sentiment Index:
- The US Economics Team
- Disclosure Appendix
Report data
Current Activity Indicator
| Metric | Estimate | Context |
|---|---|---|
| Nominal GS US Financial Conditions Index | 98.42 index points | Eased over the week mostly due to lower BBB credit spreads and higher equity prices |
| Real GS US Financial Conditions Index | 98.07 index points | Eased over the last week |
| Q3 US GDP Growth Forecast | +2.7% % qoq annualized | Quarter-over-quarter annualized tracking estimate |
| GS US MAP Index of Economic Surprises | +0.3 index points | Unchanged on net |
| Preliminary GS Current Activity Indicator (CAI) | +3.2%% | Compared to +3.5% in July |
Reports in this series
GS Economic Indicators Update is shown in chronological order through this edition, published on August 31, 2026.
Part of the GS Economic Indicators Update series — view all 4 editions
Looking for the latest edition? Global GS Economic Indicators Update Above Potential DM Activity (Sep 1, 2026)
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Authors / Editors
Reported Data Context
- Nominal GS US Financial Conditions Index: 98.42 index points (Week ending August 31, 2026) · Source: Goldman Sachs Global Investment Research
- Real GS US Financial Conditions Index: 98.07 index points (Week ending August 31, 2026) · Source: Goldman Sachs Global Investment Research
- Q3 US GDP Growth Forecast: +2.7% % qoq annualized (Q3 2026) · Source: Goldman Sachs Global Investment Research
- GS US MAP Index of Economic Surprises: +0.3 index points (As of August 31, 2026) · Source: Goldman Sachs Global Investment Research
- Preliminary GS Current Activity Indicator (CAI): +3.2% % (August 2026) · Source: Goldman Sachs Global Investment Research
Themes
Regions
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