May 24, 2019 / 2:27 PM / 5 months ago

Atlanta Fed raises U.S. second quarter GDP growth view to 1.3%

(Reuters) - The U.S. economy is growing at a 1.3% annualized rate in the second quarter despite a drop in domestic new home sales in April, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.

This was a tad faster than the 1.2% pace estimated by Atlanta Fed’s GDP program on May 16.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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