Home NY Fed’s GDP Nowcast drops to 1.5% for third-quarter from 1.8%
FXStreet News

NY Fed’s GDP Nowcast drops to 1.5% for third-quarter from 1.8%

According to the  Federal Reserve Bank  of New York’s latest Nowcasting Report, the US  economy is expected to expand by 1.5% in the third quarter of the year.

“News from this week’s data releases decreased the nowcast for 2019:Q3 by 0.3 percentage point and decreased the nowcast for 2019:Q4 by 0.5 percentage point,” the NY Fed said in its publication.

“Negative surprises from the ISM manufacturing survey drove the decrease.”

As markets are waiting for FOMC chairman Powell to deliver his remarks on the policy outlook and the current state of the economy, the US Dollar Index pays no attention to this publication and stays in the negative territory below 98.30.

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.