The US economy is expected to grow 6% in the first quarter of 2021 and 1.5% in the second quarter, as showed on Friday the Latest Nowcasting Report from the Federal Reserve Bank of New York.
“The news from this week’s data release lowered the immediate forecast for 2021: Q1 by 0.2% and lowered the immediate forecast for 2021: Q2 by 0.1%,” the New York Fed explained in its release. “A negative surprise from international trade data accounted for most of the decline in both quarters.”
Market reaction
This report was largely ignored by market participants and the US Dollar Index was last seen gaining 0.2% on the day at 92.25.
.
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.
