July 1, 2019 / 3:27 PM / 16 days ago

Atlanta Fed holds U.S. second-quarter GDP view at 1.5%

NEW YORK (Reuters) - The U.S. economy is expanding at a 1.5% annualized rate in the second quarter after data showed an unexpected 0.8% drop in construction spending in May, the Atlanta Federal Reserve’s GDPNow forecast model showed on Monday.

This was unchanged from the pace estimated by Atlanta Fed’s GDP program on June 28.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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