NY Fed's GDP Nowcast for second-quarter drops to 1.4% from 1.8%

"The New York Fed Staff Nowcast stands at 1.4% for 2019:Q2," the Federal Reserve Bank of New York reported on Friday.

"News from this week's data releases decreased the nowcast for 2019:Q2 by 0.4 percentage point," the bank said in its press release."Negative surprises from the Advance Durable Goods Report drove most of the decrease."