N.Y. Fed raises U.S. fourth-quarter GDP growth view to near 4 percent

The regional central bank's "Nowcast" model calculated the economy was expanding at an annualized pace of 3.98 percent in the fourth quarter, quicker than the 3.92 percent rate calculated a week ago.

The New York Fed said its latest tracking estimate on GDP growth for the first three months of next year was 3.15 percent, compared with 3.12 percent from last week.

(Reporting by Richard Leong; Editing by Meredith Mazzilli)