NY Fed: GDP growth forecast for Q2 2018 stands at 2.9%

Eren Sengezer FXStreet

"The New York Fed Staff Nowcast stands at 2.9% for 2018:Q2 and 2.6% for 2018:Q3," the Federal Reserve Bank of New York said in its latest Nowcasting report. Below are key takeaways from the official publication.

News from this week's data releases decreased the nowcast for 2018:Q2 by 0.1 percentage point and decreased the nowcast for 2018:Q3 by 0.2 percentage point.
Negative surprises from building permits data and the Philadelphia Fed Manufacturing survey accounted for the decrease.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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