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Trading news
5 May 2017
NY Fed Nowcast: GDP growth 1.8% for 2017:Q2
Federal Reserve Bank of New York published its weekly GDP forecast report, with key highlights found below:
- The FRBNY Staff Nowcast stands at 1.8% for 2017:Q2.
- News from this week’s data releases reduced the nowcast for Q2 by 0.5 percentage point.
- Negative surprises from the ISM manufacturing survey as well as import and export data were only partly offset by positive surprises from the employment report.