New York Fed GDP falls to 2.76% for the fourth quarter after this week’s data

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The US economy is expected to expand 2.76% in the fourth quarter, the latest Report showed on Friday Nowcasting from the Federal Reserve Bank of New York.

“The news from this week’s data releases lowered the immediate forecast for 2020: Fourth Quarter by 0.1%,” the post reads. “A negative surprise from the manufacturer’s shipping data accounted for most of the decline.”

Market reaction

The US Dollar Index, which tracks the dollar’s performance against a basket of six major currencies, largely ignored this report and was last seen shedding 0.22% on the day at 91.78.

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