NY Fed: GDP Nowcast ticks up to 2.6% for Q4

"The New York Fed Staff Nowcast stands at 2.6% for 2018:Q4 and 2.2% for 2019:Q1," the Federal Reserve Bank of New York reported on Friday.

Key quotes

"News from this week's data releases increased the nowcast for both 2018:Q4 and 2019:Q1 by 0.1 percentage point."

"Positive surprises from industrial production and capacity utilization data accounted for most of the increase. A negative surprise from the Empire State Manufacturing Survey was partially offset by a positive surprise from the Manufacturing Business Outlook Survey."