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US on track to grow 2.1% in second quarter: Atlanta Fed

Thursday, June 25, 2015 - 23:52
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The US economy is on track to expand 2.1 per cent in the second quarter in the wake of the government's final first-quarter reading on gross domestic product, and consumer spending and income in May, Atlanta Federal Reserve's GDPNow forecast model showed on Thursday.

[NEW YORK] The US economy is on track to expand 2.1 per cent in the second quarter in the wake of the government's final first-quarter reading on gross domestic product, and consumer spending and income in May, Atlanta Federal Reserve's GDPNow forecast model showed on Thursday.

This was a tad stronger than the regional Fed's prior estimate on Tuesday of a 2.0 per cent rise.

The latest data helped boost the model's forecast on real consumption in the second quarter to 3.0 per cent from 2.9 per cent, the Atlanta Fed said on its website.

REUTERS