US Revised Second-Quarter GDP Up 3.0% Vs 2.7% Rise Expected in the April-June Period - Energy Watch News


US Revised Second-Quarter GDP Up 3.0% Vs 2.7% Rise Expected in the April-June Period

The U.S. 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. Growth estimates for the third quarter are as high as a 3.4 percent. Consumer spending, which makes up more than two-thirds of the U.S. economy, grew at a 3.3 percent rate, the fastest in a year, reflecting more spending on motor vehicles, cellphones, housing and utilities than previously estimated. https://www.cnbc.com/2017/08/30/us-revised-second-quarter-gdp.html

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