Atlanta Fed downgrades U.S. third-quarter GDP view to 3.0 percent

September 15, 2016 11:31 AM EDT

Dennis Lockhart of the Atlanta Fed takes part in a panel convened to speak about the health of the U.S. economy in New York November 18, 2015. REUTERS/Lucas Jackson/File Photo

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NEW YORK (Reuters) - The U.S. economy is on track to grow at a 3.0 percent annualized rate in the third quarter, the Atlanta Federal Reserve's GDP Now forecast model showed on Thursday following the latest data on retail sales and government spending.

The latest third-quarter GDP estimate was lower than the 3.3 percent figure calculated on Sept. 9, the Atlanta Fed said on its website.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

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