Home NY Fed’s GDP Nowcast for second-quarter drops to 1% from 1.5%

NY Fed’s GDP Nowcast for second-quarter drops to 1% from 1.5%

Published date: 7 Jun. 2019 | 17:27

“The New York Fed Staff Nowcast stands at 1.0% for 2019:Q2 and 1.3% for 2019:Q3,” the Federal Reserve Bank of New York reported on Friday.

Key quotes

News from this week’s data releases decreased the nowcast for 2019:Q2 by 0.5 percentage point and decreased the nowcast for 2019:Q3 by 0.7 percentage point.
Negative surprises from the ISM manufacturing survey, employment data, and international trade data drove most of the decrease.

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