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Consumers, businesses lift US economic growth in second quarter

GDP increased at 2.6% annual rate in the April-June period

Reuters  |  Washington 

The US economy accelerated in the second quarter as consumers ramped up spending and businesses invested more on equipment, confirming that the sluggish performance early in the year was temporary. Gross domestic product increased at a 2.6 percent annual rate in the April-June period, which included a boost from trade, the Commerce Department said in its advance estimate on Friday. Growth for the first quarter was revised down to a 1.2 percent rate from the previously reported 1.4 percent pace. First-quarter growth was the weakest in a year. The rebound in growth, together ...

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First Published: Fri, July 28 2017. 18:45 IST