NEW YORK (Reuters) - The U.S. economy is expanding at a 2.6 percent annualized pace in the second quarter based on the latest data on domestic payrolls and wholesale inventories, the Atlanta Federal Reserve's GDP Now forecast model showed on Tuesday.

The latest second-quarter gross domestic product estimate was lower than the previous figure of 2.7 percent calculated on July 6, the Atlanta Fed said.

(Reporting by Richard Leong; Editing by Jeffrey Benkoe)