U.S. Markets open in 5 hrs 23 mins

U.S. economy seen growing 0.4 percent in first quarter: Atlanta Fed

A worker walks on scaffolding at the construction site of a new home in Carlsbad, California September 22, 2014. REUTERS/Mike Blake

NEW YORK (Reuters) - The U.S. economy is growing at a 0.4 percent pace in the first quarter following the latest data on home resales and durable goods orders, the Atlanta Federal Reserve's GDPNow forecast model showed on Tuesday.

This was a touch faster the 0.3 percent annualized pace for U.S. gross domestic product seen for the first three months in its prior estimate on April 19, the Atlanta Fed said on its website.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)