April 20, 2018 / 3:37 PM / a month ago

N.Y. Fed raises U.S. second-quarter growth view above 3 percent

NEW YORK (Reuters) - The U.S. economy is on track to expand by 3.03 percent in the second quarter from a prior estimate of 2.87 percent following further gains in industrial output in March, the New York Federal Reserve’s Nowcast model showed on Friday.

A U.S. Dollar note is seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration

The New York Fed forecast program’s calculation of the gross domestic product in the first quarter came in at 2.91 percent on Friday, up from 2.79 percent a week ago.

Reporting by Richard Leong; Editing by Bill Trott

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