NY Fed's GDP Nowcast edges higher to 15.6% for Q3 after this week's data releases
|The US economy is expected to expand by 15.6% in the third quarter and 7.4% in the fourth quarter, the Federal Reserve Bank of New York's latest Nowcasting Report showed on Friday.
Key takeaways
"News from this week’s data releases increased the nowcast for 2020:Q3 by 0.3 percentage point and increased the nowcast for 2020:Q4 by 0.2 percentage point."
"Positive surprises from labor market and international trade data accounted for most of the increase in both quarters."
Market reaction
The US Dollar Index largely ignored this report and was last seen gaining 0.4% on a daily basis at 93.15.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.