December 22, 2017 / 4:31 PM / a year ago

Atlanta Fed pares U.S. fourth quarter GDP view to 2.8 percent

FILE PHOTO: Construction is seen in downtown Los Angeles, California U.S. November 28, 2017. REUTERS/Lucy Nicholson

NEW YORK (Reuters) - The U.S. economy is on track to grow at a 2.8 percent annualized pace in the fourth quarter following releases of November data on personal spending and durable goods orders, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.

The latest estimate for fourth-quarter gross domestic product growth was slower than the 3.3 percent growth rate calculated on Tuesday, the Atlanta Fed said.

Reporting by Richard LeongEditing by Chizu Nomiyama

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