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.
