NY Fed Nowcast 3Q GDP estimate jumps to 2.2% from 1.6% last week
Industrial production, capacity utilization, and housing data drives the increasethe New York Fed Nowcast 3Q GDP estimate jumped to 2.2% from 1.6% last week. The NY Fed credits better industrial production, capacity utilization, and housing data for the sharp move higher
The New York Fed also forecasts Q4 growth. They see it at 2.0% this week. That was up from 1.1% last week.
The Atlanta Fed GDPNow estimate for third-quarter growth rose to 1.9% (reported on September 18). The next estimate from Atlanta will not be released until next Friday, September 27 (is it me or has the Atlanta Fed slowed down it's estimate releases? It probably is a good idea).