March 8, 2017 / 4:57 PM / 5 months ago

Atlanta Fed trims U.S. first-quarter GDP growth view to 1.2 percent

Dennis Lockhart of the Atlanta Fed takes part in a panel convened to speak about the health of the U.S. economy in New York November 18, 2015.Lucas Jackson/File Photo

NEW YORK (Reuters) - The U.S. economy is on track to grow at a 1.2 percent annualized pace in the first quarter following the January data on domestic wholesale inventory, the Atlanta Federal Reserve's GDP Now forecast model showed on Wednesday.

The latest first-quarter gross domestic product estimate was lower than the 1.3 percent growth rate calculated on Tuesday, the Atlanta Fed said on its website.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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