NY Fed Staff Model Sees GDP Expanding 2.2% in Third Quarter
- Weekly GDP estimate was relaunched Friday after two-year pause
- Nowcast will be updated every Friday by NY Fed staff
This article is for subscribers only.
The US economy could expand at an annualized pace of about 2.2% in the third quarter, according to a recently revived weekly forecasting model from staff at the Federal Reserve Bank of New York.
The measure, which was relaunched Friday by New York Fed’s Applied Macroeconomics and Econometrics Center, adds to the array of forecasts using news and economic reports to produce real-time estimates for current-quarter gross domestic product growth. A fresh estimate will be published each Friday at 11:45 am New York time.