The New York Fed Staff Nowcast stands at 1.9% for 2017:Q2 and 1.5% for 2017:Q3.
|The Federal Reserve Bank of New York published its weekly GDP forecast report, with key highlights found below:
- The New York Fed Staff Nowcast stands at 1.9% for 2017:Q2 and 1.5% for 2017:Q3.
- News from this week’s data releases reduced the nowcast for Q2 by 0.4 percentage point and for Q3 by 0.3 percentage point.
- The decrease in the nowcast was driven mainly by negative surprises from housing and retail sales data that were only partly offset by positive surprises from surveys and manufacturing data.
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