N.Y. Fed raises U.S. third-quarter GDP view to 2.96 percent
Federal Reserve and New York City Police officers stand guard in front of the New York Federal Reserve Building in New York, October 17, 2012. REUTERS/Keith Bedford/File Photo
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NEW YORK (Reuters) - The New York Federal Reserve on Friday raised its forecast on U.S. economic growth in the third quarter to 2.96 percent from 2.43 percent it estimated a week ago following a stronger-than-forecast increase in industrial output in July.
"The largest contributions came from capacity utilization and industrial production data," the N.Y. Fed said in a statement.
(Reporting by Richard Leong)
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