NY Fed's GDP Nowcast edges higher to 3.2% for Q4 of 2017

"The New York Fed Staff Nowcast for 2017:Q4 stands at 3.2%," announced the Federal Reserve Bank of New York on Friday.

Key quotes

News from this week's data releases increased the nowcast for Q4 by 0.1 percentage point.

Positive surprises from personal consumption expenditures, labor market data, and business inventories outweighed negative surprises from survey data.