Atlanta Fed upgrades U.S. first-quarter GDP growth view to above 5 percent

NEW YORK (Reuters) – The U.S. economy is on track to grow at a 5.4 percent annualized rate in the first quarter following the latest data on manufacturing and construction spending, the Atlanta Federal Reserve’s GDPNow forecast model showed on Thursday.

The latest estimate on gross domestic product was faster than the 4.2 percent growth pace calculated on Monday, the Atlanta Fed said.

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