NY Fed's GDP Nowcast remains unchanged at 3.9% for Q4 of 2017

"The New York Fed Staff Nowcast stands at 3.9% for 2017:Q4 and 3.1% for 2018:Q1," the Federal Reserve Bank of New York announced on Friday.

Key quotes

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

Negative surprises from the new residential construction release offset positive surprises from the industrial production release.