The NY Fed Nowcast estimate for Q2 growth falls to 4.2%
Down from 4.37% last week
The weekly estimate for Q2 growth from the NY Fed's GDP model, targets growth at 4.2% from 4.37% last week. The biggest drag this week came from Imports of goods and services, which subtracted -0.19%. JOLTs job openings subtracted -0.05% and Exports of goods and services subtracted -0.03%. Components of CPI were net adds to the GDP estimates this week.