The New York Federal Reserve has changed its estimate for US gross domestic product growth for Q2 2018 , from an annual rate of 3.20 % to 3.01 % , according to its Nowcast model . The change follows a slowdown in the construction of new homes and demand for durable goods .
The New York Federal Reserve has reduced its estimate for US gross domestic product growth for Q2 2018, from an annualised rate of 3.20% to 3.01%, according to its Nowcast model. The move follows a slowdown in the sales of new homes and orders for durable goods.