New York Fed leaves Q3 GDP growth view near 1.9 percentStaff Writer | July 29, 2017
The New York Federal Reserve said its estimate on U.S. gross domestic product for third quarter was little changed at about 1.9 percent based on the latest data on durable goods orders, new home sales and inventories.
Empire State The regional Nowcast model
The regional central bank's "Nowcast" model calculated the economy was expanding at an annualized pace of 1.92 percent in the third quarter, compared with 1.95 percent a week earlier.
The U.S. Commerce Department said earlier on Friday that U.S. GDP grew at a 2.6 percent pace in the second quarter, compared with a "Nowcast" estimate of 2.09 percent. ■