NY Fed's GDP Nowcast improves to 4.0% for Q4 of 2017

"The New York Fed Staff Nowcast stands at 4.0% for 2017:Q4 and 3.1% for 2018:Q1," the Federal Reserve Bank of New York reported on Friday.

News from this week's data releases increased the nowcast for 2017:Q4 by 0.1 percentage point and left the nowcast for 2018:Q1 broadly unchanged.

Small negative surprises from industrial production and capacity utilization data were offset by the positive impact of data revisions.