December 7, 2018 / 4:46 PM / 6 days ago

N.Y. Fed trims U.S. fourth-quarter GDP growth view to 2.4 percent

NEW YORK (Reuters) - The U.S. economy is growing at a 2.44 percent clip in the fourth quarter as data showed the U.S. trade gap hit its widest in 10 years in October and domestic payrolls growth slowed in November, the New York Federal Reserve’s Nowcast model showed on Friday.

This was slower than the 2.50 percent rate calculated by N.Y. Fed’s program the previous week.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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