NY Fed Nowcast dips to 2.5% from 2.6% last week

Durable goods shipments and new orders a drain this week

The NY Fed 4Q GDP Nowcast comes in at 2.5% vs 2.6% last week. The biggest drains came from the Durable goods report this week. New orders and shipments subtracted -0.11% from last week. At the same time, however, inventories from the report added 0.16% and was the biggest contributor.

Without rounding, the model dipped from 2.59% last week to 2.51% this week.