NEW YORK (Reuters) - The U.S. economy is on track to expand at a 1.2 percent annualized pace in the first quarter following the release of data on manufacturing activity in March, the Atlanta Federal Reserve's GDP Now forecast model showed on Monday.


The latest first-quarter gross domestic product estimate was faster than the 0.9 percent growth rate calculated last Friday, the Atlanta Fed said on its website.


(Reporting by Richard Leong; Editing by Chizu Nomiyama)