NEW YORK (Reuters) - The U.S. economy likely grew at a 2.4 percent annualized rate in the second quarter following the latest data on vehicle sales and the trade balance, the Atlanta Federal Reserve's GDPNow forecast model showed on Wednesday.
The latest GDP estimate was weaker than the 2.6 percent pace calculated on July 1, the regional Fed said on its website.
The Atlanta Fed said consumer spending likely grew 4.3 percent in the last quarter from its prior estimate of 4.4 percent on weaker vehicle sales in June.
Based on a wider-than-forecast May trade deficit, net exports likely contributed 0.15 percentage point to second-quarter GDP from its previous forecast of 0.25 percentage point, it said.
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(Reporting by Richard Leong; Editing by Chizu Nomiyama)