The U.S. economy is expected to grow 4.3% and 5.4% in the second and third quarters of 2021, respectively, the latest Nowcasting Report from the Federal Reserve Bank of New York showed on Friday.
“The news from this week’s data releases raised the immediate forecast for 2021: second quarter by 0.2% and increased the immediate forecast for 2021: third quarter by 0.2%,” the New York Fed explained in its release. “Positive surprises from ADP employment and business inventory data accounted for most of the increase in both quarters.”
Market reaction
This report was largely ignored by market participants and the US Dollar Index was last seen as losing 0.4% on the day at 90.13.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
