U.S. third-quarter GDP seen slowing to 2.43%: N.Y. Fed

The New York Federal Reserve today pared its forecast on U.S. economic growth in the third quarter to 2.43% from 2.63% it estimated a week ago due mainly to weak data on domestic retail sales in July.

“The largest negative contribution came from retail sales data,” the N.Y. Fed said in a statement.

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