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: