Friday, February 7, 2020

New York Fed Q1 GDP Nowcast

From the Federal Reserve Bank of New York, February 7:
Feb 07, 2020: New York Fed Staff Nowcast
  • The New York Fed Staff Nowcast stands at 1.7% for 2020:Q1.
  • News from this week’s data increased the nowcast for 2020:Q1 by 0.2 percentage point.
  • Positive surprises from higher-than-expected exports and imports data were only partially offset by negative surprises from the ISM manufacturing survey.
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And the hotter-running Atlanta Fed GDP Now
Latest estimate: 2.7 percent — February 7, 2020
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2020 is 2.7 percent on February 7, down from 2.9 percent on February 5. After this morning's release of the employment report by the U.S. Bureau of Labor Statistics and the wholesale trade report from the U.S. Census Bureau, the nowcasts of first-quarter real personal consumption expenditures growth and first-quarter real gross private domestic investment growth decreased from 3.0 percent and 5.9 percent, respectively, to 2.9 percent and 5.0 percent, respectively....
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