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

Eren Sengezer FXStreet

According to the Federal Reserve Bank of New York's latest Nowcasting Report, the US economy is expected to expand by 1.8% in the third quarter of the year.

"News from manufacturing, prices, and personal consumption data were small, leaving the nowcast broadly unchanged," NY Fed said in its weekly publication.

The US Dollar Index, which tracks the dollar's value against a basket of six major currencies, didn't react to the data and was last up 0.3% on the day at 98.75.

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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