February 26, 2019 / 5:18 PM / 7 months ago

Atlanta Fed shaves U.S. fourth-quarter 2018 GDP view to 1.8 percent

Crews load and unload consumer products at the Port of New Orleans along the Mississippi River in New Orleans, Louisiana June 23, 2010. REUTERS/Sean Gardner

NEW YORK (Reuters) - The U.S. economy likely grew at a 1.8 percent annualized rate in the fourth quarter, based on a steeper-than-forecast 11.2 percent drop in housing starts in December, the Atlanta Federal Reserve’s GDPNow forecast model showed on Tuesday.

This was slightly slower than the 1.9 percent pace for fourth-quarter gross domestic product that the Atlanta Fed’s GDP program calculated on Monday.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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