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What did the data this week do for the NY Fed GDP estimate?

What did the data this week do for the NY Fed GDP estimate?

News
Greg Michalowski
01/09/2017 | 15:38 GMT

Good news. Estimate for 3rd quarter up to 2.2% from 1.9%

The NY Fed has increased their estimates for the 3Q to 2.2% from 1.9% a week ago.

  • The New York Fed Staff Nowcast stands at 2.2% for 2017:Q3.
  • News from this week's data releases increased the nowcast by 0.3 percentage point.
  • Positive news from the ISM manufacturing report accounted for most of the increase.

The Atlanta Fed GDPNow report yesterday estimated GDP higher at 3.3%. They are expected to revise their estimate today.

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