NY Fed's GDP Nowcast eases to 3.9% for Q4 of 2017

"The New York Fed Staff Nowcast stands at 3.9% for 2017:Q4 and 3.2% for 2018:Q1," the Federal Reserve Bank of New York reported on Friday.

News from this week's data releases decreased the nowcast for 2017:Q4 by 0.1 percentage point and left the nowcast for 2018:Q1 broadly unchanged.

Positive surprises from survey data and from housing data on net were offset by negative surprises from manufacturing data and by the negative impact of data revisions.