“The New York Fed Staff Nowcast stands at 1.4% for 2019:Q1 and 1.9% for 2019:Q2,” the Federal Reserve Bank of New York said in its latest Nowcasting Report.
Key quotes
“For 2019:Q2, news from this week’s data releases had a sizable positive impact, increasing the nowcast by 0.3 percentage point. Positive surprises from the ISM manufacturing survey accounted for most of the action.”
“For 2019:Q1, news from this week’s data releases had a small positive impact, increasing the nowcast by 0.1 percentage point.”
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