July 6, 2017 / 4:00 PM / 5 months ago

Atlanta Fed lowers U.S. second-quarter GDP view to 2.7 percent

NEW YORK (Reuters) - The U.S. economy is expanding at 2.7 percent annualized pace in the second quarter based on the latest data on vehicle sales, factory orders and trade balance, the Atlanta Federal Reserve’s GDP Now forecast model showed on Thursday.

A crane flies an American flag over a construction site in downtown Los Angeles, California October 29, 2014. REUTERS/Mike Blake

The latest second-quarter gross domestic product estimate was lower than the previous figure of 3.0 percent calculated on Monday, the Atlanta Fed said.

Reporting by Richard Leong

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