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New York Fed's second and third quarter U.S. GDP views hit one-month high
July 7, 2017 / 3:55 PM / 5 months ago

New York Fed's second and third quarter U.S. GDP views hit one-month high

NEW YORK (Reuters) - The New York Federal Reserve said on Friday it increased its estimates on the U.S. gross domestic product for the second quarter and third quarter to their highest levels in a month based on the latest U.S. payrolls, service and factory activity data.

FILE PHOTO - The corner stone of The New York Federal Reserve Bank is seen surrounded by financial institutions in New York's financial district March 25, 2015. REUTERS/Brendan McDermid

The regional central bank’s “Nowcast” model calculated the economy was expanding at an annualized pace of 1.96 percent in the second quarter, faster than the 1.91 percent a week ago. The “Nowcast” program showed third-quarter GDP growing at 1.78 percent, up from the 1.61 percent calculated a week earlier.

Reporting by Richard Leong

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