The US economy is expected to grow 2.2% and 5.5% in the fourth quarter of 2020 and the first quarter of 2021, respectively, the latter showed on Friday. Nowcasting Report from the Federal Reserve Bank of New York.
“The news from this week’s data release increased the immediate forecast for 2020: fourth quarter by 0.1 percentage points and increased the immediate forecast for 2021: first quarter by 0.3%,” explained the New York Fed in its release. . “The positive surprises from ISM’s manufacturing and import data were only partially offset by negative surprises from the employment data in both quarters.”
Market reaction
The US Dollar Index It did not show an immediate reaction to this report and was last seen posting small daily gains at 89.87.
.
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.
