"The New York Fed Staff Nowcast stands at 3.9% for 2017:Q4 and 3.1% for 2018:Q1," the Federal Reserve Bank of New York announced on Friday.
News from this week's data releases left the nowcast for 2017:Q4 broadly unchanged and decreased the nowcast for 2018:Q1 by 0.1 percentage point.
Negative surprises from the new residential construction release offset positive surprises from the industrial production release.
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