NY Fed's GDP Nowcast ticks higher to 4.0% for Q4 of 2017

"The New York Fed Staff Nowcast stands at 4.0% for 2017:Q4 and 3.4% for 2018:Q1," the Federal Reserve Bank of New York announced on Friday.

Key highlights

News from this week's data releases increased the nowcast for 2017:Q4 by 0.1 percentage point and increased the nowcast for 2018:Q1 by 0.3 percentage point.

Positive surprises from the ISM Manufacturing PMI and from trade data accounted for most of the increase.