October 10, 2018 / 3:52 PM / 2 months ago

Atlanta Fed raises U.S. third-quarter GDP growth view to 4.2 percent

FILE PHOTO: Trucks offload containers from ship at the port of Los Angeles in Los Angeles, California, U.S. July 16, 2018. REUTERS/Mike Blake/File Photo

NEW YORK (Reuters) - The U.S. economy is expanding at a 4.2 percent annualized rate in the third quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Wednesday, following the release of the latest data on producer prices and wholesale trade.

That was a tad faster than the 4.1 percent pace calculated on Oct. 5 by the Atlanta Fed’s forecast program.

Reporting by Richard Leong

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