Atlanta Fed raises U.S. first-quarter GDP growth view to 2.8%

FILE PHOTO: Shoppers carry bags of purchased merchandise at the King of Prussia Mall, United States’ largest retail shopping space, in King of Prussia, Pennsylvania, U.S., December 8, 2018. REUTERS/Mark Makela/File Photo

April 18, 2019

(Reuters) – The U.S. economy expanded at a 2.8% annualized rate in the first quarter based on data that showed domestic retail sales grew at their strongest pace in 1-1/2 years in March, the Atlanta Federal Reserve’s GDPNow forecast model showed on Thursday.

This was faster than the 2.4% pace for the first-quarter gross domestic product that the Atlanta Fed’s GDP program calculated on Wednesday.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

Source: OANN