Friday, May 25, 2018

© Reuters.  N.Y. Fed raises U.S. fourth quarter GDP growth view to 3.16 percent© Reuters. N.Y. Fed raises U.S. fourth quarter GDP growth view to 3.16 percent

NEW YORK (Reuters) – The New York Federal Reserve on Friday raised its estimate of U.S. gross domestic product growth for the fourth quarter, based on solid data on business inventories, personal spending and jobs growth.

The regional central bank’s “Nowcast” model calculated the economy was expanding at an annualized pace of 3.16 percent in the fourth quarter, quicker than the 3.05 percent rate calculated a week ago.

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