The Q1 estimate for GDP growth comes in at 1.0% vs 1.5% last week
The New York Fed’s Nowcast estimate for Q4 growth dips to 1.1% from 1.2% last week. The employment component of the ISM subtracted -0.04% as did the my son composite index. Data revisions added 0.04%.
As if the current quarter is hard enough to estimate, the New York Fed also has model to estimate the 1st quarter GDP. For that they see GDP growth declining to 1.0% from 1.5% in the prior week.
The biggest negative was the ISM composite index which attracted -0.26% (see the table below). The employment index subtracted -0.19%.