N.Y. Fed raises U.S. fourth-quarter GDP view to 2.36 percent

November 18, 2016 11:32 AM EST

A sale sign is seen inside a Target store in Delta, British Columbia January 15, 2015. REUTERS/Ben Nelms

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NEW YORK (Reuters) - The U.S. economy is on track to expand at a 2.36 percent annualized pace in the fourth quarter following stronger-than-expected data on domestic retail sales and housing starts, the New York Federal Reserve's forecast model showed on Friday.

The latest fourth-quarter GDP estimate was faster than the 1.63 percent growth rate calculated on Nov. 9, the New York Fed said on its website.

(Reporting by Richard Leong)

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