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Atlanta Fed raises U.S. fourth quarter GDP forecast to 2.9 percent

Reuters

NEW YORK (Reuters) - The U.S. economy is on track to grow at a 2.9 percent annualized pace in the fourth quarter following the latest data on manufacturing and construction spending, the Atlanta Federal Reserve's GDP Now forecast model showed on Thursday.

The latest fourth-quarter GDP estimate was higher than the 2.4 growth rate calculated on Wednesday, the Atlanta Fed said on its website.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)