NEW YORK (Reuters) - The U.S. economy is on track to grow at a 2.31 percent pace in the third quarter, the New York Federal Reserve said on Friday, slightly faster than its estimate last week of 2.21 percent.

The regional central bank also said its Nowcast model showed gross domestic product likely grew at a 2.09 percent pace in the second quarter, compared with its 2.08 percent estimate the prior week.

(Reporting by Richard Leong; Editing by James Dalgleish)