NY Fed GDP Nowcast estimate for 4Q rises to 3.8% from 3.2% last week

Big 0.6% increase in the current week.

Highlights

• The New York Fed Staff Nowcast for 2017:Q4 stands at 3.8%.
• News from this week's data releases increased the nowcast for Q4 by 0.6 percentage point.
• Industrial production and housing data drove the increase.

Earlier in the session the Atlanta Fed estimate for 4Q GDP rose to 3.4% from 3.2%.