Home NY Fed’s GDP Nowcast rises to 0.8% for fourth quarter from 0.7%

NY Fed’s GDP Nowcast rises to 0.8% for fourth quarter from 0.7%

Published date: 29 Nov. 2019 | 17:42

The United States’ (US) economy is expected to expand by 0.8% in the last quarter of the year, compared to the previous week’s estimate of 0.7%, the Federal Reserve Bank of New York’s latest Nowcasting Report showed on Friday.

“News from this week’s data releases increased the nowcast for 2019:Q4 by 0.1 percentage point,” the NY Fed explained in its publication. “Positive surprises from manufacturers’ shipments and headline price data accounted for most of the increase.”

The US Dollar Index ignored this data and was last down 0.07% on the day at 98.26.

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