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Tuesday, June 6, 2023

Atlanta Fed shaves U.S. fourth-quarter 2018 GDP view to 1.8 percent

Atlanta Fed shaves U.S. fourth-quarter 2018 GDP view to 1.8 percent© Reuters. Crews load and unload consumer products at the Port of New Orleans along the Mississippi River in New Orleans, Louisiana

NEW YORK (Reuters) – The U.S. economy likely grew at a 1.8 percent annualized rate in the fourth quarter, based on a steeper-than-forecast 11.2 percent drop in housing starts in December, the Atlanta Federal Reserve’s GDPNow forecast model showed on Tuesday.

This was slightly slower than the 1.9 percent pace for fourth-quarter gross domestic product that the Atlanta Fed’s GDP program calculated on Monday.

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Source: Investing.com

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