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“The New York Fed Staff Nowcast stands at 2.8% for 2018:Q2 and 2.7% for 2018:Q3,” the Federal Reserve Bank of New York reported on Friday.

Key quotes from the official publication

  • News from this week’s data releases left the nowcast for 2018:Q2 broadly unchanged and increased the nowcast for 2018:Q3 by 0.2 percentage point.
  • Positive surprises from the ISM manufacturing survey accounted for the increase.