New York Fed NowCast GDP model sees 4Q at 3.97% vs 3.87% last week

Sees 1Q 2018 at 3.45% vs 3.15% last week.

In contrast to the Atlanta Fed which now sees GDP in the fourth quarter at 2.7% after the US jobs data, the New York Fed has raised their estimate for fourth-quarter GDP growth to 3.97% from 3.87% last Friday.

They also are estimating first-quarter 2018 growth to be 3.45% versus 3.15% on their December 29 estimate.