New York Fed Q2 GDP Nowcast 1.0% vs 1.5% a week ago
Q3 also lowered
The second quarter tracking forecast was cut by 0.5 percentage points to 1.0%.
"Negative surprises from the ISM manufacturing survey, employment data, and international trade data drove most of the decrease," the report said.
The Q3 reading was also lowered to 1.3% from 2.0%.
Nothing says 'keep buying stocks' like rapidly falling growth indications.