Atlanta Fed sees U.S. third-quarter GDP growing at 4.7 percent

NEW YORK (Reuters) – The U.S. economy is growing at a 4.7 percent annualized rate in the third quarter following the government’s first reading of the second-quarter gross domestic product at 4.1 percent, the Atlanta Federal Reserve’s GDPNow forecast model showed on Tuesday.

The Atlanta Fed’s initial third-quarter GDP estimate is nearly 2 percentage points above New York Federal Reserve’s calculation of 2.83 percent for third-quarter economic growth released last Friday.

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