NY Fed's GDP Nowcast ticks down to 0.7% for fourth quarter of 2019
|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 0.7% in the last quarter of the year.
"News from this week's data releases decreased the nowcast for 2019:Q4 by 0.1 percentage point," the NY Fed said in its publication. "Negative surprises from lower than expected exports and imports data accounted for most of the decrease."
The US Dollar Index paid no mind to this publication and was last up 0.25% and 1.3% on a daily and weekly basis, respectively.
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