September 11, 2018 / 4:37 PM / 2 months ago

Atlanta Fed cuts U.S. third-quarter GDP view below 4 percent

FILE PHOTO: Empty shipping containers are stacked for storage at Wando Welch Terminal operated by the South Carolina Ports Authority in Mount Pleasant, South Carolina, U.S. May 10, 2018. REUTERS/Randall Hill/File Photo

NEW YORK (Reuters) - The U.S. economy is expanding at a 3.8 percent annualized rate in the third quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Tuesday, following the August payroll data released last Friday.

This was slower than the 4.4 percent pace calculated by the regional Fed’s forecast program on Sept. 5.

Reporting by Richard Leong

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