NEW YORK (Reuters) - The U.S. economy is on track to grow at a 2.5 percent annualized pace in the third quarter, based on the payrolls report for September which showed employment fell for the first time in seven years, the Atlanta Federal Reserve's GDPNow forecast model showed on Friday.


The latest estimate for third-quarter gross domestic product was slower than the 2.8 percent growth rate calculated on Thursday, the Atlanta Fed said.

(Reporting by Richard Leong)