Today we see estimates tor the last two weeks. Let's also take a look at my guess of the estimates vs. how the estimates came in.

September 23, 2016 Nowcast Highlights

The FRBNY Staff Nowcast stands at 2.3% and 1.2% for 2016:Q3 and 2016:Q4, respectively.

Negative news since the report was last published two weeks ago pushed the nowcast down 0.5 percentage point for both Q3 and Q4.

The largest negative contributions over the last two weeks came from manufacturing, retail sales, and housing and construction data.

GDPNow is still strongly divergent with the Nowcast. However, the current GDPNow estimate of 2.94% is down from the initial August 3 estimate of 3.64% and the peak estimate on August 5 of 3.80%.It's not the data itself that matters, but rather how well the data came in vs. what the model estimated. Since the last estimate, nearly all data did worse than the model expected.