NY Fed Staff Nowcast Backcast (Previous Quarter)

NY Fed Staff Nowcast Backcast (Previous Quarter) is a nowcast that estimates quarterly GDP growth from incoming monthly and high-frequency data. It is useful for tracking the current growth pulse before the official GDP release is finalized.

Because it is an estimate, it can move sharply from one update to the next. The key signal is not a single print but whether repeated updates are being revised up or down.

Nowcasts work best when read together with payrolls, retail sales, production and inventory data, because those releases often drive the revisions.