NY Fed Q3 GDP Nowcast tracker cut to 1.5% from 1.8%
ISM manufacturing responsible for the drop
The GDP tracker for the third quarter from the New York Fed was lowered to 1.5% from 1.8%. For the fourth quarter the tracker is at 1.1%, down from 1.6%.
"Negative surprises from the ISM manufacturing survey drove the decrease," the report said.