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N.Y. Fed raises U.S. second quarter GDP growth view to 1.9 percent
May 12, 2017 / 3:34 PM / 4 months ago

N.Y. Fed raises U.S. second quarter GDP growth view to 1.9 percent

Federal Reserve and New York City Police officers stand guard in front of the New York Federal Reserve Building in New York, October 17, 2012. To match Special Report CYBER-HEIST/FEDERAL REUTERS/Keith Bedford/File Photo

NEW YORK (Reuters) - The New York Federal Reserve said on Friday it raised its outlook on U.S. economic growth in the second quarter following the latest data on retail sales and consumer and producer prices this week.

The U.S. gross domestic product was on track to expand at an annualized pace of 1.9 percent, faster than the prior estimate of 1.8 percent on May 5, the New York Fed’s “Nowcast” program showed.

Reporting by Richard Leong

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