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“The New York Fed Staff Nowcast stands at 2.8% for 2018:Q2 and 2.6% for 2018:Q3,” the Federal Reserve Bank of New York reported on Friday.

“News from this week’s data releases left the nowcast for 2018:Q2 broadly unchanged and decreased the nowcast for 2018:Q3 by 0.1 percentage point,” the bank explained and added that negative surprises from export and import prices accounted for most of the decrease.