New York Fed GDP improves to 4.4% for the second quarter after this week’s data

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.

.

You may also like

Whales are purchased by Trump token
Top News
David

Whales are purchased by Trump token

The cryptocurrency market demonstrates significant interest in Trump – token related to the Trump family. Meanwhile, the disputes around the