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Atlanta Fed raises U.S. fourth quarter GDP forecast to 2.9 percent
December 1, 2016 / 5:40 PM / 10 months ago

Atlanta Fed raises U.S. fourth quarter GDP forecast to 2.9 percent

Construction is seen in the Hudson Yards area of the West Side of Manhattan in New York U.S., November 21, 2016. REUTERS/Shannon Stapleton

NEW YORK (Reuters) - The U.S. economy is on track to grow at a 2.9 percent annualized pace in the fourth quarter following the latest data on manufacturing and construction spending, the Atlanta Federal Reserve’s GDP Now forecast model showed on Thursday.

The latest fourth-quarter GDP estimate was higher than the 2.4 growth rate calculated on Wednesday, the Atlanta Fed said on its website.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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