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NY Fed: GDP Nowcast ticks as much as 1.2% for Q1 2019

“The New York Fed Workers Nowcast stands at 2.3% for 2018:This fall and 1.2% for 2019:Q1,” the Federal Reserve Financial institution of New York introduced on Friday.

Key quotes

  • Information from this week’s knowledge releases elevated the nowcast for each 2018:This fall and 2019:Q1 by 0.1 share level.
  • Constructive surprises from manufacturing knowledge accounted for a lot of the enhance. A detrimental shock from the Philadelphia Fed manufacturing survey partially offset the rise for 2019:Q1.
  • The primary 2018:This fall GDP launch, initially scheduled for January 30, has been postponed to February 28 because of the partial shutdown of the federal authorities. We are going to proceed to backcast 2018:This fall GDP development till then.