Atlanta Fed raises U.S. second-quarter GDP growth view to 3.8 percent

A woman shops with her daughter at a Walmart Supercenter in Rogers

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

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

(Reporting by Richard Leong; Editing by Chizu Nomiyama)