NY Fed's GDP Nowcast ticks up to 0.7% for fourth quarter of 2019
|The United States' (US) economy is expected to expand by 0.7% in the last quarter of the year, the Federal Reserve Bank of New York's latest Nowcasting Report showed on Friday.
"News from this week's data releases increased the nowcast for 2019:Q4 by 0.1 percentage point and increased the nowcast for 2020:Q1 by 0.2 percentage point," the press release read. "A positive surprise from retail sales data accounted for most of the increase."
The publication was ignored by investors and the US Dollar Index was last up 0.4% on the day at 97.15.
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