June 27, 2018 / 3:59 PM / 3 months ago

Atlanta Fed lowers U.S. second quarter GDP view to 4.5 percent

NEW YORK (Reuters) - The U.S. economy is growing at a 4.5 percent annualized rate in the second quarter following the latest data on home sales and advance trade balance released this week, the Atlanta Federal Reserve’s GDPNow forecast model showed on Wednesday.

FILE PHOTO: Construction cranes are seen in the Los Angeles skyline in downtown Los Angeles, California U.S. November 7, 2017. REUTERS/Lucy Nicholson

The latest estimate on gross domestic product growth was slower than the 4.7 percent pace estimated on June 19, the Atlanta Fed said.

Reporting by Richard Leong

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