New York Fed restarts GDP Nowcast; forecasts 2.3% Q3 growth

The Federal Reserve Bank of New York has restarted its GDP Nowcast after suspending it during the coronavirus pandemic.

Now that the regional central bank relaunched the model, let’s take a look at where it expects the third-quarter gross domestic product will be.

The New York Fed expects 2.25% growth in the July-to-September period.

By comparison, the widely-watched Atlanta Fed Bank’s GDPNow model estimate still suggests a whopping 5.6% growth.