Technical Analysis

NY Fed GDP Nowcast is available in little modified at 2.49%

Final week at 2.48%

The NY Fed Nowcast estimate for the 4Q GDP got here in at 2.49% within the present week. That was up by the slimmest of margins from final week (2.48%). 

The most important contributor was ADP (+Zero.03%). The most important decliner was ISM composite index (-Zero.03%).

For the 1Q of 2019, the estimate within the present week stayed regular at 2.14%.

The Atlanta Fed GDPNow estimate was launched yesterday. They estimate progress at 2.6%. That was after the weaker ISM report. The subsequent estimate will likely be launched on Tuesday. I might count on that given the sturdy employment quantity, they’d ratchet their estimate larger. 

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