NY Fed Nowcast estimate for 4Q growth
What?
The NY Fed Nowcast estimate for 4Q GDP growth was cut to 0.6% from 0.8% last week. Furthermore they see Q1 growth at 0.7%.
The biggest decliners for the week was ISM manufacturing composite index (-0.11%) , ISM manufacturing employment index (-0.07%) nad imports of goods and services (-0.07%). The largest contributors was total nonfarm payroll (+0.06%, and the civilian unemployment rate (0.03%).
I don't know.....
The Atlanta Fed GDPNow estimate will likely be released shortly. Yesterday it saw 4Q growth at 1.5%.
