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“Today’s advance estimate from the Commerce Department of real GDP growth for 2019:Q1 was 3.2%. The latest New York Fed Staff Nowcast for 2019:Q1 was 1.4%,” the Federal Reserve Bank of New York said in its latest Nowcasting Report.

Key qutoes

“The New York Fed Staff Nowcast stands at 2.1% for 2019:Q2.”

“News from this week’s data releases increased the nowcast for 2019:Q2 by 0.2 percentage point.”

“Positive surprises from manufacturing data and housing data accounted for most of the increase.”