NY Fed's GDP Nowcast unchanged at 1.5% for Q2 and 1.8% for Q3

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 1.5% in the second quarter and 1.7% in the third quarter of 2019.

"The New York Fed Staff Nowcast stands at 1.5% for 2019:Q2 and 1.8% for 2019:Q3," the NY Fed said. "News from the JOLTS, CPI, and PPI releases were small, leaving the nowcast for both quarters broadly unchanged."

The US Dollar Index, which came under modest pressure in the last hour amid week end flows in Europe, was last down 0.13% on the day at 96.93.

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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