Atlanta Fed slashes U.S. fourth quarter GDP estimate to 3.3 percent

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© Reuters.  Atlanta Fed slashes U.S. fourth quarter GDP estimate to 3.3 percent© Reuters. Atlanta Fed slashes U.S. fourth quarter GDP estimate to 3.3 percent

NEW YORK (Reuters) – The U.S. economy is on track to grow at a 3.3 percent annualized pace in the fourth quarter based on the latest data on U.S. payrolls and business inventories, the Atlanta Federal Reserve’s GDPNow forecast model showed on Friday.

The latest estimate for fourth-quarter gross domestic product growth was slower than the 4.5 percent growth rate calculated on Wednesday, the Atlanta Fed said.

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