NY Fed's GDP Nowcast for Q3 improves to 15.3% after this week's data releases

The US economy is expected to expand by 15.3% in the third quarter of the year, the Federal Reserve Bank of New York's latest Nowcasting Report showed on Friday. 

Key takeaways

"News from this week’s data releases increased the nowcast for 2020:Q3 by 0.7 percentage point."

"Positive surprises from manufacturers’ shipments of durable goods and personal consumption expenditures drove most of the increase."

Market reaction

The US Dollar Index continues to consolidate Friday's losses and was last seen losing 0.67% on a daily basis at 92.38.