NEW YORK (Reuters) - The U.S. economy is on track to grow at a 3.2 percent annualized rate in the fourth quarter after data showed construction spending reached a record high in November and stronger-than-forecast December figures on factory activity, the Atlanta Federal Reserve’s GDPNow forecast model showed on Wednesday.
The latest estimate for fourth-quarter gross domestic product growth was faster than the 2.8 percent growth rate calculated on Dec. 22, the Atlanta Fed said.
Reporting by Richard Leong
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.