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US growth revised up in second quarter

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By Euronews
US growth revised up in second quarter

<p>The US economy expanded more than previously estimated in the second quarter – the second time in a row that has happened. </p> <p><span class="caps">GDP</span> 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.</p> <p>Revised data on construction helped push the figure up.</p> <p>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. </p> <p>The figures support the case that the US may be strong enough to withstand an increase in interest rates.</p> <p>Last week the US Federal Reserve held off from hiking rates but chair Janet Yellen kept the door open on a rise this year.</p>