October 14, 2016 / 3:59 PM / a year ago

Atlanta Fed sees U.S. third-quarter GDP below 2 percent

Pre-owned automobiles are shown for sale at a car lot in Oceanside, California, U.S., October 3, 2016. REUTERS/Mike Blake/File Photo

NEW YORK (Reuters) - The U.S. economy is on track to grow at a 1.9 percent annualized pace in the third quarter following the September data on domestic retail data, the Atlanta Federal Reserve’s GDP Now forecast model showed on Friday.

The latest third-quarter GDP estimate was lower than the 2.1 percent increase calculated on Oct. 7, the Atlanta Fed said on its website.

Reporting by Richard Leong, Editing by Franklin Paul

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