NY Fed GDPNowcast… – Commodity Research Group

April 5, 2021 by Jim Colburn Leave a Comment

The NY Fed updates its model forecast every Friday… Here is the most recent number that includes Friday’s employment report.. Note that the model uses the ADP’s measure of nonfarm payroll employment and only the civilian unemployment rate (which doesn’t seem to move GDP much) and the All Employees category from Friday’s release… Does the market give too much weight to Friday’s report and not enough to Wednesday’s ADP release?

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

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