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“The New York Fed Staff Nowcast stands at 3.3% for the second quarter of 2018,” the Federal Reserve Bank of New York said in its latest Nowcasting Report published for the week ending June 1, 2018. Below are the key highlights of this week’s report.

  • This week’s data releases increased the nowcast for the second quarter of 2018  by 0.3 percentage point.
  • Positive surprises from personal consumption expenditures, wholesale inventories, and construction data accounted for the increase.

As of writing, the US Dollar Index is holding on to small daily gains at 94.05.