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“The New York Fed Staff Nowcast stands at 2.2% for 2018:Q3 and 2.8% for 2018:Q4,” the Federal Reserve Bank of New York announced on Friday.

“This week’s data releases left the nowcast for both quarters broadly unchanged. Positive surprises from industrial production and capacity utilization data were roughly offset by negative surprises from retails sales and producer prices data,” the Bank explained.

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