November 1, 2017 / 4:04 PM / a year ago

Atlanta Fed upgrades U.S. fourth-quarter growth view to 4.5 percent

A construction worker works on the side of a hill along a highway construction project in Encinitas, California, U.S., October 26, 2017. REUTERS/Mike Blake

NEW YORK (Reuters) - The U.S. economy is on track to grow at a 4.5 percent annualized pace in the fourth quarter even as data showed domestic factory sector growth retreated from a 13-1/2 year peak in October, the Atlanta Federal Reserve’s GDPNow forecast model showed on Wednesday.

The latest estimate for fourth-quarter gross domestic product growth was faster than the 2.5 percent growth rate calculated on Monday, the Atlanta Fed said.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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