N.Y. Fed keeps U.S. third-quarter GDP view near 2 percent

NEW YORK (Reuters) – The U.S. economy is set to grow at a 1.98 percent annualized pace in the third quarter, based on the July data on domestic personal spending and income, the New York Federal Reserve’s Nowcast model showed on Friday.

A week ago, the N.Y. Fed program estimated gross domestic product would expand 1.96 percent in the third quarter.

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