“The New York Fed Staff Nowcast stands at 2.3% for 2018:Q3 and 2.7% for 2018:Q4,” the Federal Reserve Bank of New York reported on Friday.
Key quotes
“News from this week’s data releases left the nowcast for 2018:Q3 broadly unchanged and decreased the nowcast for 2018:Q4 by 0.1 percentage point.”
“A negative surprise from the Empire State Manufacturing Survey accounted for most of the decrease. Housing data had little net impact.”