NY Fed Nowcast: GDP growth seen at 1.9% for 2017:Q2

According to the latest GDP Nowcast report released by the Federal Reserve Bank of New York:

  • The New York Fed Staff Nowcast stands at 1.9% for 2017:Q2 and 1.8% for 2017:Q3.
  • The effect of news from this week’s data releases was small, leaving the nowcast for both quarters broadly unchanged.
  • Positive surprises from industrial production and capacity utilization were offset by a negative surprise from retail sales and from data revisions.

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