NY Fed: Nowcast GDP growth expectation eases to 2.7% for Q2

Eren Sengezer FXStreet

"The New York Fed Staff Nowcast stands at 2.7% for 2018:Q2 and 2.4% for 2018:Q3," the Federal Reserve Bank of New York reported on Friday.

Key quotes 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.
The largest negative surprises came from housing data and were only partially offset by positive surprises from industrial production and capacity utilization data.

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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