NEW YORK (Reuters) - The New York Federal Reserve said on Friday it raised its outlook on U.S. economic growth in the second quarter following the latest data on retail sales and consumer and producer prices this week.
The U.S. gross domestic product was on track to expand at an annualized pace of 1.9 percent, faster than the prior estimate of 1.8 percent on May 5, the New York Fed's "Nowcast" program showed.