September 11, 2018 / 4:38 PM / 9 days ago

Atlanta Fed cuts U.S. third-quarter GDP view below 4 percent

NEW YORK (Reuters) - The U.S. economy is expanding at a 3.8 percent annualized rate in the third quarter, the Atlanta Federal Reserve’s GDPNow forecast model showed on Tuesday, following the August payroll data released last Friday.

FILE PHOTO: Empty shipping containers are stacked for storage at Wando Welch Terminal operated by the South Carolina Ports Authority in Mount Pleasant, South Carolina, U.S. May 10, 2018. REUTERS/Randall Hill/File Photo

This was slower than the 4.4 percent pace calculated by the regional Fed’s forecast program on Sept. 5.

Reporting by Richard Leong

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