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U.S. growth seen holding above 2 percent: N.Y. Fed - Metro US

U.S. growth seen holding above 2 percent: N.Y. Fed

The frame of a 2015 Ford Mustang vehicle moves down the production line at the Ford Motor Flat Rock Assembly Plant in Flat Rock, Michigan, U.S. August 20, 2015. REUTERS/Rebecca Cook/File Photo
Reuters

NEW YORK (Reuters) – The U.S. economy remained on track to expand a tad above 2 percent in the coming months as this week’s data hinted at moderate growth in consumer spending and a rebound in factory activity, the New York Federal Reserve said on Friday.

The regional central bank said its Nowcast model showed the gross domestic product likely grew at a 2.08 percent annualized pace in the second quarter, compared with a 2.11 percent estimate a week ago. Its growth forecast on third-quarter GDP was 2.21 percent, versus 2.14 percent a week earlier.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

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