U.S. third-quarter GDP seen slowing to 2.43 percent: N.Y. Fed

August 12, 2016 11:33 AM EDT

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 pared its forecast on U.S. economic growth in the third quarter to 2.43 percent from 2.63 percent it estimated a week ago due mainly to weak data on domestic retail sales in July.

"The largest negative contribution came from retail

sales data," the N.Y. Fed said in a statement.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

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