The US economy is expected to expand by 1.1% in the last quarter of 2019 and by 1% in the first quarter of 2020, the Federal Reserve Bank of New York’s latest Nowcasting Report showed on Friday.
“News from this week’s data releases decreased the nowcast for 2019:Q4 by 0.1 percentage point and decreased the nowcast for 2020:Q1 by 0.5 percentage point,” the NY Fed’s publication read. “Negative surprises from the ISM manufacturing survey accounted for most of the decrease.”
The US Dollar Index ignored this report and stays flat on the day near 96.80 as investors are waiting for the FOMC to publish the minutes of its December meeting.
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