New York Fed raises fourth quarter 2016, first quarter 2017 U.S. GDP views
NEW YORK (Reuters) - The New York Federal Reserve on Friday raised its outlook on U.S. economic growth in final quarter of 2016 and first three months of 2017 following the release of December data on domestic retail sales and producer prices.
U.S. gross domestic product was on track to expand at an annualized pace of 1.94 percent in fourth quarter of 2016, faster the previous forecast of 1.89 percent a week ago, while GDP in the first quarter was on course to grow by an annualized pace of 2.09 percent, swifter than last week's estimate of 1.94 percent, the New York Fed's Nowcast model showed.
(Reporting by Richard Leong)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- US regulators mulling bid to limit bonuses for Wall Street execs, WSJ reports
- Microsoft earnings preview: Another strong report from the AI winner?
- Williams: Rate Hike Not Baseline, But Possible If Data Warrants
Create E-mail Alert Related Categories
Fed, General News, ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!