NY Fed: GDP Nowcast drops to 2.5% for Q4

"The New York Fed Staff Nowcast for 2018:Q4 stands at 2.5%," the Federal Reserve Bank of New York reported on Friday.

Key quotes

"News from this week's data releases decreased the nowcast for 2018:Q4 by 0.1 percentage point."

"Negative surprises from manufacturers’ new orders and shipments data accounted for most of the decrease, while news from housing data had a small impact."