NY Fed GDP Nowcast comes in little changed at 2.49%

Last week at 2.48%

The NY Fed Nowcast estimate for the 4Q GDP came in at 2.49% in the current week. That was up by the slimmest of margins from last week (2.48%).

The biggest contributor was ADP (+0.03%). The largest decliner was ISM composite index (-0.03%).

For the 1Q of 2019, the estimate in the current week stayed steady at 2.14%.

The Atlanta Fed GDPNow estimate was released yesterday. They estimate growth at 2.6%. That was after the weaker ISM report. The next estimate will be released on Tuesday. I would expect that given the strong employment number, they would ratchet their estimate higher.