December 14, 2018 / 4:53 PM / 6 months ago

N.Y. Fed's U.S. fourth-quarter GDP growth holds near 2.4 percent

NEW YORK (Reuters) - The U.S. economy is growing at a 2.42 percent pace in the fourth quarter as stronger-than-expected November data on industrial output offset the steepest drop in import prices in over three years last month, the New York Federal Reserve’s Nowcast model showed on Friday.

This was little changed from the 2.44 percent pace calculated by N.Y. Fed’s program the week before.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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