May 25, 2018 / 3:14 PM / 6 months ago

Atlanta Fed trims U.S. second quarter GDP view to 4.0 percent

NEW YORK (Reuters) - The U.S. economy is expanding at a 4.0 percent annualized rate in the second quarter as data showed new and existing home sales fell in April, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.

The latest estimate on gross domestic product growth was slower than the 4.1 percent pace estimated on May 16, the Atlanta Fed said.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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