Economic news

U.S. GDP grows at 3.1% rate in second quarter

The U.S. GDP increased more than previously reported in the second quarter, recording its fastest pace in more than two years, according to data from the Commerce Department.

The economy grew at a 3.1 percent annual rate in the second quarter, following a 1.2 percent pace in the previous period.

The growth in consumer spending was unrevised at 3.3 percent.


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