NY Fed’s GDP Nowcast stayed unchanged at 2% for Q3

According to the  Federal Reserve Bank  of New York’s latest Nowcasting Report published on Friday, the United States’ (US) economy is expected to expand by 2% in the third quarter of the year and 1.3% in the last quarter.

“The New York Fed Staff Nowcast stands at 2.0% for 2019:Q3 and 1.3% for 2019:Q4,” NY Fed said in its press release. “News from the JOLTS, PPI, CPI, and export and import prices releases were small, leaving the nowcast for both quarters broadly unchanged.”