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

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

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.

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. REUTERS/Lucas Jackson/File Photo

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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