NY Fed's GDP Nowcast for second-quarter rises to 1.4% from 1%

Eren Sengezer FXStreet

"The New York Fed Staff Nowcast stands at 1.4% for 2019:Q2 and 1.7% for 2019:Q3," the Federal Reserve Bank of New York announced on Friday.

"News from this week's data releases increased the nowcast for both 2019:Q2 and 2019:Q3 by 0.4% point," the bank noted. "Positive surprises from retail sales, capacity utilization, and industrial production data drove the increase."

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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