Atlanta Fed raises U.S. third quarter GDP growth view to 2.7 percent
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Louisville Assembly Plant employees work to assemble the new 2013 Ford Escape on the production line in Louisville, Kentucky, June 13, 2012. REUTERS/John Sommers II/File Photo
NEW YORK (Reuters) - The U.S. economy is on track to grow at a 2.7 percent annualized pace in the third quarter, based on the stronger-than-forecast rise on construction spending in August and a surprise acceleration in factory activity in September, the Atlanta Federal Reserve's GDP Now forecast model showed on Monday.
The latest estimate for third-quarter gross domestic product was faster than the 2.3 percent growth rate calculated on Sept. 29, the Atlanta Fed said.
(Reporting by Richard Leong; Editing by Chizu Nomiyama)
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