NY Fed's GDP Nowcast stayed unchanged at 2% for Q3, dropped to 1.3% for Q4

According to the Federal Reserve Bank of New York's latest Nowcasting Report, the United States economy is expected to expand by 2% in the third quarter of the year and 1.3% in the last quarter.

"News from this week's data releases left the nowcast for 2019:Q3 broadly unchanged and decreased the nowcast for 2019:Q4 by 0.5 percentage point," the NY Fed said in its publication.

"Negative surprises from the ISM manufacturing survey drove the decrease for 2019:Q4."