NY Fed's GDP Nowcast for second-quarter unchanged 1.4%

Eren Sengezer FXStreet

According to the Federal Reserve Bank of New York's latest Nowcasting Report, the U.S. economy is expected to expand by 1.4% in the second quarter and 1.3% in the third quarter of 2019.

"News from this week's data releases left the nowcast for 2019:Q2 largely unchanged and decreased the nowcast for 2019:Q3 by 0.4 percentage point," the Bank said. "For 2019:Q3, negative surprises from regional survey data drove most of the decrease."

The US Dollar Index largely ignored this report and continues to move sideways above 96.50.

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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