September 28, 2018 / 3:30 PM / 2 months ago

N.Y. Fed raises U.S. third quarter, fourth-quarter GDP growth estimates

NEW YORK (Reuters) - U.S. gross domestic product is expanding at a 2.47 percent clip in the third quarter, faster than the 2.26 percent pace calculated a week ago, the New York Federal Reserve’s Nowcast model showed on Friday.

It projected GDP in the fourth quarter is growing at a 2.92 percent rate, quicker than the 2.66 percent pace estimated the week before.

Reporting by Richard Leong

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