July 25, 2019 / 2:38 PM / 4 months ago

Atlanta Fed model lowers U.S. second quarter GDP estimate to 1.3%

NEW YORK (Reuters) - The U.S. economy grew at a 1.3% annualized rate in the second quarter based on June data on domestic durable goods orders and advance goods trade, the Atlanta Federal Reserve’s GDPNow forecast model showed on Thursday.

This was slower than the 1.6% pace estimated by the Atlanta Fed’s GDP program on July 17.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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