U.S. economy seen growing 3.6 percent in fourth quarter: Atlanta Fed

November 17, 2016 1:54 PM EST

Cargo containers sit idle at the Port of Los Angeles as a back-log of over 30 container ships sit anchored outside the Port in Los Angeles, California, February 18, 2015. REUTERS/Bob Riha, Jr./File Photo

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NEW YORK (Reuters) - The U.S. economy is on track to grow at a 3.6 percent annualized pace in the fourth quarter after data showed domestic housing starts hit a nine-year high in October, the Atlanta Federal Reserve's GDP Now forecast model showed on Thursday.

The latest fourth-quarter GDP estimate was faster than the 3.3 percent growth rate calculated on Nov. 15, the Atlanta Fed said on its website.

(Reporting by Richard Leong)

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