February 25, 2016 / 4:25 PM / in 2 years

U.S. seen expanding 2.5 percent in first quarter: Atlanta Fed

NEW YORK (Reuters) - The U.S. economy is on track to grow 2.5 percent in the first quarter after government data suggested a decline in real consumer spending growth in January, the Atlanta Federal Reserve’s GDPNow forecast model showed on Thursday.

A shopper holds her bags as she tries to hail a cab in New York November 22, 2011. REUTERS/Jessica Rinaldi

That pace is a tad slower than the regional Fed’s prior estimate of 2.6 percent growth on Feb. 17, the Atlanta Fed said on its website.

First-quarter real consumer spending growth declined to 3.1 percent from an earlier estimate of 3.3 percent following data on January consumer prices released last Friday, the Atlanta Fed said.

Reporting by Richard Leong

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