October 2, 2017 / 4:47 PM / in 5 months

Atlanta Fed raises U.S. third quarter GDP growth view to 2.7 percent

NEW YORK (Reuters) - The U.S. economy is on track to grow at a 2.7 percent annualized pace in the third quarter, based on the stronger-than-forecast rise on construction spending in August and a surprise acceleration in factory activity in September, the Atlanta Federal Reserve’s GDP Now forecast model showed on Monday.

The latest estimate for third-quarter gross domestic product was faster than the 2.3 percent growth rate calculated on Sept. 29, the Atlanta Fed said.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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