Fed Report Indicates GDP Growth, Positive Signs in Housing Market - Premier Insights

The Federal Reserve Bank of New York’s “Nowcasting” economic model is designed to produce real-time measures of the economy. The purpose is to provide more frequent and current updates to traditional economic forecasts. Specifics on the methodologies employed can be found: https://www.newyorkfed.org/research/policy/nowcast/methodology.html.

Highlights from the latest release are as follows:

• Sep 22, 2017: New York Fed Staff Nowcast
• The New York Fed Staff Nowcast stands at 1.6% for 2017:Q3 and 2.0% for 2017:Q4.
• News from this week’s data releases increased the nowcast for both quarters by 0.2 percentage point.
• Positive surprises from housing data accounted for the increase.

The full report can be downloaded here:
https://www.newyorkfed.org/medialibrary/media/research/policy/nowcast/nowcast_2017_0922.pdf?la=en