The picture of the week capturing current economic trend this week comes from the New York Federal Reserve Bank’s Nowcast released Friday March 1, 2024.

The colored bars reflect the impact of each broad category of data on the nowcast; the impact of specific data releases is shown in the accompanying table. To be clear, the NY Fed nowcast estimates the current annual rate of growth for the U.S. economy in real time. As new economic data are released, the NY Fed’s nowcast is updated.