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25 Sep 2015
US Q2 GDP revised higher to 3.9%
FXStreet (Mumbai) - The third estimate released by the US commerce department released on Friday revised the GDP higher to 3.9% from the second estimate of 3.7%.
Higher consumer spending and somewhat stronger business investment accounted for the upward revision, the Commerce Department said.
Consumer spending, the main engine of U.S. growth, rose 3.6% vs. an earlier 3.1% estimate. Exports rose 5.1%, while imports edged up 3%. Inflation, as measured by the PCE price index rose at a 2.2% annual rate, unchanged from the prior reading.
Higher consumer spending and somewhat stronger business investment accounted for the upward revision, the Commerce Department said.
Consumer spending, the main engine of U.S. growth, rose 3.6% vs. an earlier 3.1% estimate. Exports rose 5.1%, while imports edged up 3%. Inflation, as measured by the PCE price index rose at a 2.2% annual rate, unchanged from the prior reading.