November 16, 2018 / 4:46 PM / a month ago

N.Y. Fed trims U.S. Q4 growth estimate to 2.59 percent

NEW YORK (Reuters) - U.S. economy is growing at a 2.59 percent clip in the fourth quarter based on this week’s data on industrial output and Mid-Atlantic business activity data from the Philadelphia Federal Reserve, the New York Federal Reserve’s Nowcast model showed on Friday.

This was slower than the 2.69 percent rate calculated by N.Y. Fed’s program the week before.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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