April 2, 2018 / 4:06 PM / 3 months ago

Atlanta Fed raises first quarter GDP growth view to 2.8 percent

NEW YORK (Reuters) - The U.S. economy is on track to grow at a 2.8 percent annualized rate in the first quarter following the latest data on construction spending and manufacturing activity, the Atlanta Federal Reserve’s GDPNow forecast model showed on Monday.

The latest estimate on gross domestic product was faster than the 2.4 percent growth pace calculated on March 29, the Atlanta Fed said.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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