The US economy expanded more than previously estimated in the second quarter – the second time in a row that has happened. GDP rose at an annual
ADVERTISEMENTThe US economy expanded more than previously estimated in the second quarter – the second time in a row that has happened.
GDP rose at an annual rate of 3.9 percent between April and June; 0.2 percent more than the 3.7 percent the Commerce Department estimated last month.
Revised data on construction helped push the figure up.
It was fueled by higher consumer spending – mainly on services like healthcare and transport – which accounts for more than two-thirds of US economic activity.
The figures support the case that the US may be strong enough to withstand an increase in interest rates.
Last week the US Federal Reserve held off from hiking rates but chair Janet Yellen kept the door open on a rise this year.
