NY Fed's GDP Nowcast falls to 0.4% for fourth quarter from 0.7%
|According to the Federal Reserve Bank of New York's latest Nowcasting Report published on Friday, the United States' (US) economy is expected to expand by 0.4% in the last quarter of the year.
"News from this week's data releases decreased the nowcast for 2019:Q4 by 0.3 percentage point," the NY Des said in its publication. "Negative surprises from capacity utilization and industrial production data drove most of the decrease."
In the meantime, the US Dollar Index stays in the negative territory near the 98 handle, looking to register a weekly loss of around 0.4%.
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