NY Fed Nowcast estimate for 4Q GDP at 3.9%

Author: Greg Michalowski | Category: News

Down from 4.0% last week

The NY Fed  is out with their estimates for 4Q and 1Q 2018. 

They now see 4Q GDP at 3.9%, down from 4.0% last week.  The biggest contributor was single family houses sold (added 0.1%).  Data revisions subtracted -0.09% (see charts below).

For the 1Q, they see growth at a 3.2% annualized pace. 

Earlier today, the Atlanta Fed lowered their estimate for the 4Q to 2.8% from 3.3% in the prior week.  Needless to say, there is a divergence of opinion from the respective Fed models.
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