Economic news

U.S. economy grows at fastest pace in two years

The U.S. Q2 gross domestic product grew at an annual rate of 3 percent, according to revised data from the Commerce Department.

Growth last quarter was the fastest since a 3.2 percent gain in the first quarter of 2015.

Second-quarter growth was backed by strength in consumer spending on housing facilities, public services, prescription drugs, and cellphone services.

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