No change in the latest New York Fed GDP forecast
The latest Nowcasting report
- The FRBNY Staff Nowcast stands at 2.7% for 2017:Q1 and 2.1% for 2017:Q2.
- Both forecasts essentially unchanged
Negative surprises from the Empire State Manufacturing Survey and housing starts offset positive surprises from industrial production, capacity utilization, and building permits, according to the report.