U.S. economy on track to grow 1.8 percent in third quarter: Atlanta Fed

NEW YORK (Reuters) - The U.S. economy is on track to grow 1.8 percent in the third quarter after a mildly stronger-than-expected 0.4 percent increase in personal spending in August, the Atlanta Federal Reserve's GDPNow forecast model showed on Monday.

This was a faster rate from the regional Fed bank's prior estimate of 1.4 percent last Thursday, the Atlanta Fed said on its website.

The August increase in real personal consumption expenditures raised the quarter's pace to 3.5 percent from its prior estimate of 3.2 percent, the regional Fed said.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

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