NY Fed's GDP Nowcast for second quarter drops to 1.8% from 2.2%

Eren Sengezer FXStreet

"The New York Fed Staff Nowcast stands at 1.8% for 2019:Q2," the Federal Reserve Bank of New York said in its latest Nowcasting Report.

Key quotes

"News from this week's data releases decreased the nowcast for 2019:Q2 by 0.4 percentage point."

"Negative surprises from industrial production and capacity utilization data largely offset positive surprises from housing and regional survey 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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