NY Fed's GDP Nowcast stands at 3.9% for Q4 of 2017

"The New York Fed Staff Nowcast stands at 3.9% for 2017:Q4 and 3.2% for 2018:Q1," the Federal Reserve Bank of New York announced on Friday.

News from this week's data releases decreased the nowcast for 2017:Q4 by 0.1 percentage point and decreased the nowcast for 2018:Q1 by 0.2 percentage point.

A negative surprise from lower than expected retail sales accounted for most of the decrease.