NY Fed: GDP Nowcast stands rises to 2.5% for Q4

"The New York Fed Staff Nowcast stands at 2.5% for 2018:Q4 and 2.1% for 2019:Q1," the Federal Reserve Bank of New York reported on Friday.

Key quotes

"News from this week's data releases increased the nowcast for 2018:Q4 by 0.1 percentage point and decreased the nowcast for 2019:Q1 by 0.3 percentage point."

"For 2018:Q4, positive surprises from housing data accounted for most of the increase, while for 2019:Q1, negative surprises from survey data were only partially offset by positive surprises from housing data."