NY Fed's GDP Nowcast for second quarter drops to 1.8% from 2.2%

"The New York Fed Staff Nowcast stands at 1.8% for 2019:Q2," the Federal Reserve Bank of New York said in its latest Nowcasting Report.

Key quotes

"News from this week's data releases decreased the nowcast for 2019:Q2 by 0.4 percentage point."

"Negative surprises from industrial production and capacity utilization data largely offset positive surprises from housing and regional survey data."