FXStreet – The so-called Nowcast of the reserve Bank of New York estimates that the US GDP growth in the second quarter to 2.3 percent. Recent positive data from the Manufacturing sector and the real estate market would have let the forecast model by 0.2 percent to 2.3 percent swell.
How the Commerce Department in Washington reported today that the gross domestic product in the first quarter of the year grew by only 0.7 percent. The Nowcast estimated the growth previously, to 2.7 percent.
** FXStreet News Editorial, FXStreet**