NY Fed's GDP Nowcast for Q3 rises to 14.8% after this week's data releases

The US economy is expected to expand by 14.8% in the third quarter of the year, the Federal Reserve Bank of New York's latest Nowcasting Report showed on Friday. 

Key takeaways

"News from this week’s data releases increased the nowcast for 2020:Q3 by 0.2 percentage point."

"Positive surprises from industrial production, capacity utilization, and prices data were partially offset by a negative surprise from retail sales data."

Market reaction

The US Dollar Index largely ignored this publication and was last seen losing 0.15% on a daily basis at 93.11.