The New York Fed Staff Nowcast stands at 1.9% for 2017:Q2 and 1.5% for 2017:Q3.

The Federal Reserve Bank of New York published its weekly GDP forecast report, with key highlights found below:

The New York Fed Staff Nowcast stands at 1.9% for 2017:Q2 and 1.5% for 2017:Q3.
News from this week’s data releases reduced the nowcast for Q2 by 0.4 percentage point and for Q3 by 0.3 percentage point.
The decrease in the nowcast was driven mainly by negative surprises from housing and retail sales data that were only partly offset by positive surprises from surveys and manufacturing data.

Jun 16, 2017

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