NY Fed: GDP Nowcast falls to 2.2% for Q4 2018 from 2.4%

"The New York Fed Staff Nowcast stands at 2.2% for 2018:Q4 and 1.1% for 2019:Q1," the Federal Reserve Bank of New York announced on Friday.

Key quotes

  • News from this week's data releases decreased the nowcast for 2018:Q4 by 0.2 percentage point and decreased the nowcast for 2019:Q1 by 1.1 percentage points.
  • Negative surprises from retail sales, capacity utilization, and industrial production data drove the decrease.
  • The first 2018:Q4 GDP release, originally scheduled for January 30, has been postponed to February 28 as a result of the partial shutdown of the federal government. 

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