The Reuters report said the Atlanta Federal Reserve’s GDPNow model continued to point to 2.5 percent annualized growth for the U.S. economy in the fourth quarter.
The forecast held steady after the model absorbed October readings on durable goods orders and existing home sales. That matched the pace the Atlanta Fed’s GDP program had calculated on Tuesday.
New durables data pushed the outlook for non-residential equipment investment lower. The Atlanta Fed said that component was now expected to rise 10.5 percent in the quarter, down from an earlier estimate of 11.5 percent.
The Commerce Department reported that durable goods orders fell 4.4 percent in October after a downwardly revised 0.1 percent decline in September.
Housing data also changed the model’s assumptions. After the National Association of Realtors released October existing home sales figures, the Atlanta Fed cut the projected drag from residential investment to 4.1 percent from 6.3 percent.
The trade group said domestic home resales rose 1.4 percent to a seasonally adjusted annual rate of 5.22 million units in October, slightly ahead of analysts’ forecasts.
The Reuters file also carried a 2010 photo caption describing containers at the Port of New Orleans in Louisiana.
Reporting was by Richard Leong and editing by Chizu Nomiyama.
