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US: NY Fed’s GDP Nowcast falls to 4.3% for Q2 after this week’s data

May 28, 2021 by admin 0 Comments

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The US economy is expected to grow by 4.3% in the second quarter of 2021, the Federal Reserve Bank of New York’s latest Nowcasting Report showed on Friday.

“News from this week’s data releases decreased the nowcast for 2021:Q2 by 0.3 percentage point,” the NY Fed explained in its publication. “Negative surprises from real disposable income and manufacturers’ shipments and new orders data accounted for most of the decrease.”