N.Y. Fed upgrades U.S. fourth quarter GDP view near four percent

The regional central bank's "Nowcast" model calculated the U.S. economy was expanding at an annualized pace of 3.97 percent in the fourth quarter, faster than the 3.87 percent rate calculated a week ago.

The New York Fed said its latest tracking estimate on GDP growth for the first three months of 2018 showed a 3.45 percent growth rate, quicker than the 3.15 percent from a week earlier.

(Reporting by Richard LeongEditing by Chizu Nomiyama)