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US second-quarter GDP revised up to 3%, fastest in over two years

Growth last quarter was the strongest since the first quarter of 2015 and followed a 1.2% pace

Reuters  |  Washington 

The US economy grew faster than initially thought in the second quarter, notching its quickest pace in more than two years, and there are signs that the momentum was sustained at the start of the third quarter. Gross domestic product increased at a 3.0 per cent annual rate in the April-June period, the Commerce Department said in its second estimate on Wednesday. The upward revision from the 2.6 percent pace reported last month reflected robust consumer spending as well as strong business investment. Growth last quarter was the strongest since the first quarter of 2015 and ...

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First Published: Wed, August 30 2017. 19:33 IST
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