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Atlanta Fed raises U.S. second-quarter GDP view to 2.9 percent
The U.S. economy is on track to grow by a 2.9 percent annualized rate in the second quarter following the latest data on durable goods orders and advance goods trade, the Atlanta Federal Reserve's GDPNow forecast model showed on Thursday. The latest GDP estimate saw faster growth than the 2.5 percent pace reported on May 17, the regional Fed said on its website. It was the Atlanta Fed's strongest reading yet on second-quarter economic activity, suggesting a rebound from a weak first quarter. Its initial second-quarter GDP growth estimate back on April 29 was 1.8 percent. The forecast for second-quarter gross private ... (full story)