New York Fed Nowcast: cuts Q3 GDP forecast to 2.3% from 2.5% prior; cuts Q4 forecast to 2.8% from 2.9% prior
- News from this week’s data releases decreased the nowcast for 2018:Q3 by 0.2 percentage point and decreased the nowcast for 2018:Q4 by 0.1 percentage point.
- A negative surprise from exports data and negative impacts from parameter revisions accounted for most of the decrease. Positive news from the ISM surveys partially offset the decrease for 2018:Q4.