(Reuters) - Gross domestic product that measures total output within
U.S. borders gained at a 3.4 percent annual rate -- the fastest
since 4.8 percent in the first quarter of 2006 -- after barely
growing at a downwardly revised 0.6 percent pace in the first
quarter. Previously the government had reported that
first-quarter growth was at a 0.7 percent rate.
Second-quarter growth exceeded Wall Street economists'
forecasts for a 3.2 percent rate of increase and showed the
business sector picking up some of the slack left by consumers
who cut back on their spending.
Read more at Reuters.com Economic News
U.S. borders gained at a 3.4 percent annual rate -- the fastest
since 4.8 percent in the first quarter of 2006 -- after barely
growing at a downwardly revised 0.6 percent pace in the first
quarter. Previously the government had reported that
first-quarter growth was at a 0.7 percent rate.
Second-quarter growth exceeded Wall Street economists'
forecasts for a 3.2 percent rate of increase and showed the
business sector picking up some of the slack left by consumers
who cut back on their spending.
Read more at Reuters.com Economic News
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