The Atlanta Fed raises its US GDP growth forecast for the second quarter to 3.8%

NEW YORK (Reuters) – The U.S. economy is expected to grow at an annualized rate of 3.8% in the second quarter, based on a report of an increase in personal spending in April, the model showed on Tuesday. GDP Now forecast from the Atlanta Federal Reserve.

The latest estimate of second-quarter gross domestic product was faster than the 3.7% rate calculated on May 26, the Atlanta Fed said.

(Reporting by Richard Leong; editing by Chizu Nomiyama)