N.Y. Fed forecast: U.S. Q4 GDP growth to fall to 0.8%

Data: Federal Reserve Bank of New York; Chart: Andrew Witherspoon/Axios

The New York Fed's GDP projection model predicted U.S. growth would slow to 0.8% in the fourth quarter.

Why it matters: If correct, it would be the weakest quarter since Q4 2015 and put the economy well off the pace of 2018's 2.9% annual growth.

• However, prior to Q3's on-the-nose prediction of 1.9% quarterly growth, the N.Y. Fed's nowcasts haven't been especially accurate.

Go deeper: Economists see sustained low growth, but no recession