New York Fed: Q3 GDP growth forecast rises to 2.2% from 2%

"The New York Fed Staff Nowcast stands at 2.2% for 201:Q3 and 2.8% for 2018:Q4," the Federal Reserve Bank of New York announced on Friday.

Key quotes

• News from this week's data releases increased the nowcast for 2018:Q3 by 0.2 percentage point and increased the nowcast for 2018:Q4 by 0.8 percentage point.
• Positive surprises from the ISM manufacturing survey drove the increase.