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New York Fed puts fourth-quarter economic growth at 3.98 percent

Posted by Olog-hai on Mon Dec 18 10:07:52 2017, in response to US economy grew at a rate of 3 percent between July and September, posted by Olog-hai on Fri Oct 27 12:35:24 2017.

They had to revise it upwards. That must have pained them to do.

Reuters

N.Y. Fed raises U.S. fourth-quarter GDP growth view to near 4 percent

Richard Leong, Reuters Staff
December 15, 2017 12:09 PM
The New York Federal Reserve on Friday raised its estimate of U.S. gross domestic product growth for the fourth quarter of 2017 closer to 4 percent, based on revisions of prior data that suggested stronger economic activities.

The regional central bank’s “Nowcast” model calculated the economy was expanding at an annualized pace of 3.98 percent in the fourth quarter, quicker than the 3.92 percent rate calculated a week ago.

The New York Fed said its latest tracking estimate on GDP growth for the first three months of next year was 3.15 percent, compared with 3.12 percent from last week.

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