The NY Fed GDP forecast falls to 1.8% from 2.7%

Atlanta Fed GDPNow was moved to 2.6% earlier.

As per the NY Fed's webiste.

December 16, 2016: Highlights

  • The FRBNY Staff Nowcast stands at 1.8% for 2016:Q4 and 1.7% for 2017:Q1.
  • This week's news had a negative effect on the nowcast, pushing down the Q4 and Q1 measures by about 0.7 percentage point each.
  • The largest negative contributions came from capacity utilization and industrial production data as well as housing data, which were only partly offset by a positive contribution from survey data.

The prior report was 2 weeks ago. The NY Fed were respective of the Fed "black out" period last Friday before the FOMC decision on Wednesday.

You can read the entire report by CLICKING HERE.

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