NY Fed's 'nowcast' estimate of second-quarter GDP rises to 1.7 percent

Tokyo Apr 18, 13:24:05 London Apr 18, 05:24:05 New York Apr 18, 00:24:05

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NY Fed's 'nowcast' estimate of second-quarter GDP rises to 1.7 percent

The U.S. economy is on track to expand at an annualized rate of 1.7 percent in the second quarter, half a percentage point higher than estimated a week earlier, the New York Federal Reserve said on Friday.Positive news came from manufacturing and housing data and were only slightly offset by negative news from survey data, the New York Fed said in a report.