July 11, 2018 / 3:45 PM / 8 days ago

Atlanta Fed raises U.S. second quarter GDP view to 3.9 percent

NEW YORK (Reuters) - The U.S. economy is growing at a 3.9 percent annualized rate in the second quarter following the latest data on domestic wholesale inventory and producer prices, the Atlanta Federal Reserve’s GDPNow forecast model showed on Wednesday.

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

The latest estimate on gross domestic product growth was faster than the 3.8 percent pace estimated on July 6, the Atlanta Fed said.

Reporting by Richard Leong

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