NY Fed Nowcast: GDP growth stands at 2.3% for 2017:Q2

Eren Sengezer FXStreet

Federal Reserve Bank of New York published its weekly GDP forecast report, with key highlights found below:

Incoming data during the week led to an increase in the nowcast for 2017:Q2 of 0.4 percentage point.
The increase in the nowcast was driven mainly by positive surprises from industrial production and capacity utilization data, and was only partly offset by negative news from housing 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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