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US' Q2 GDP growth revised higher to 3.1%; consumer spending unrevised

The economy recorded its quickest pace in more than two years

Reuters  |  Washington 

The US economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years, but the momentum probably slowed in the third quarter as Hurricanes Harvey and Irma temporarily curbed activity. Gross domestic product increased at a 3.1 per cent annual rate in the April-June period, the Commerce Department said in its third estimate on Thursday. The upward revision from the 3.0 per cent pace of growth reported last month reflected an increase in inventory investment. Growth last quarter was the fastest since the first quarter of ...

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First Published: Thu, September 28 2017. 19:20 IST