U.S. economic growth was revised higher for the April-to-June period. Expansion was boosted by higher consumer spending and increased business investment.
Updated government data showed that the U.S. Gross Domestic Product expanded at a revised rate of 3.9 percent in the second quarter. This was revised up from the 3.7 percent growth that was reported last month.
This is the final revision to the second-quarter GDP figures. Next month, the government will release its first estimate of economic growth for the third quarter.
The 3.9 percent growth in the April-to-June period represented a strong rebound after the first three months of the year, when the economy shrank by 0.2 percent.
The material has been provided by InstaForex Company – www.instaforex.com