March 1, 2017 / 5:25 PM / 9 months ago

Atlanta Fed cuts U.S. first-quarter GDP growth view to 1.8 percent

NEW YORK (Reuters) - The U.S. economy is on track to grow at a 1.8 percent annualized pace in the first quarter after data showed slower-than-expected growth in consumer spending in January, the Atlanta Federal Reserve’s GDP Now forecast model showed on Wednesday.

The latest first-quarter gross domestic product estimate was lower than the 2.5 percent growth rate calculated on Monday, the Atlanta Fed said on its website.

Reporting by Richard Leong; Editing by W Simon

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