2.5% for the 3Q now, down from 2.6% last week.
The NY Fed Nowcast for 2Q GDP is out for the current week, and it has dipped to 2.79% (round to 2.8%) from 2.87% (round to 2.9%). The biggest subtraction came from durable goods shipments (subtracted -0.09%). The biggest addition was from new single family houses sold (+0.05%).
For Q3, their model says that GDP dipped to 2.5% from 2.6%.
Earlier today, the Atlanta Fed guesstimate fell sharply to 3.8% from 4.5% (from Wednesday). Although well off the 4.8% high in the middle of June, it is still 1% higher than the NY Feds forecast.
