Atlanta Fed raises third quarter view on U.S. economic growth

NEW YORK (Reuters) - The U.S. economy is on track to grow 1.1 percent in the third quarter on stronger real personal consumption from higher motor vehicle sales, the Atlanta Federal Reserve's GDPNow forecast model showed on Tuesday.

This was a faster rate from the regional Fed bank's prior estimate of 0.9 percent last Thursday, the Atlanta Fed said on its website.

The government's figures on light motor vehicle sales released on Monday led the regional Fed's program to add a 0.2 percentage point increase in real personal consumption to 3.6 percent in the third quarter.

Real net exports and equipment investment from Tuesday's August trade data also lifted the model's GDP reading, the Atlanta Fed said.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

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