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Second-Quarter U.S. Growth Revised Upward, Again
The U.S. economy grew at a 3.1% annual rate in the second quarter, up from an initial estimate of 2.6% that was revised to 3.0% late last month.
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The U.S. economy grew at a 3.1% annual rate in the second quarter, up from an initial estimate of 2.6% that was revised to 3.0% late last month, the U.S. Dept. of Commerce reports.
The stronger growth as led by stronger data about consumer spending, government spending and private inventory investment. The Commerce Dept. says the overall picture of economic growth is unchanged.
The American economy has been expanding at a rate of 2%-2.5% over the past eight years. The second quarter pace, coming off a below-average 1.2% rate in the first quarter, is the strongest period in two years.
The personal consumption price index rose 0.3% in the second quarter compared with 2.6% in January-March, according to the Commerce Dept.
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