NY Fed raises GDP Nowcast to 2% for 2017:Q2

Federal Reserve Bank of New York published its weekly GDP forecast report, with key highlights found below:

• The New York Fed Staff Nowcast stands at 2.0% for 2017:Q2 and 1.8% for 2017:Q3
• News from this week's data releases increased the nowcast by 0.1 percentage point for Q2 and 0.2 percentage point for Q3
• Positive surprises from the ISM PMI drove most of the increase