NY Fed: GDP Nowcast rises to 2.4% for Q1 2019

"The New York Fed Staff Nowcast stands at 2.6% for 2018:Q4 and 2.4% for 2019:Q," the Federal Reserve Bank of New York reported on Friday.

Key quotes

"The GDP release scheduled for this week was postponed as a result of the partial shutdown of the federal government."

"News from this week's data releases left the nowcast for 2018:Q4 broadly unchanged and increased the nowcast for 2019:Q1 by 0.2 percentage point."

"Positive surprises from the ISM manufacturing survey, employment data, and housing data accounted for most of the increase."