February 27, 2018 / 5:52 PM / 8 months ago

Atlanta Fed lowers U.S. first quarter GDP growth estimate to 2.6 percent

NEW YORK (Reuters) - The U.S. economy is on track to expand at a 2.6 percent annualized rate in the first quarter following releases of the government’s latest data on advance trade balance and durable goods orders, the Atlanta Federal Reserve’s GDPNow forecast model showed on Tuesday.

The latest estimate on gross domestic product was slower than the 3.2 percent growth pace calculated on Feb. 16, the Atlanta Fed said.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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