3Q estimate at 2.89% vs 3.01% last week
The NY Fed Nowcast forecast for the 2Q has moved to 3.08% from 3.26% last week. The guesstimate was hurt by "Imports: Goods and services" which subtracted -0.13% from last week's numbers. "Exports: Goods and services" also subtracted -0.5%. The only contributor was "Data revisions"
The Q3 also dipped in the current week with their estimate moving from 3.01% to 2.89%.
In contrast the Atlanta Fed's GDPNow estimate (which was quoted by the White House this week), which saw GDP at 4.5% in their last report. They will report another revision today.
