U.S. Economy’s Growth Rate in 2nd Quarter Revised Up to 3.7%

August 27, 2015 1:22 PM

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U.S. Economy’s Growth Rate in 2nd Quarter Revised Up to 3.7%

The economy grew much more quickly last quarter than initially thought as businesses and consumers increased spending, the government said Thursday.

At 3.7 percent, the revised estimate for the annualized rate of economic expansion in the spring is more than a full percentage point higher than the initial reading of 2.3 percent reported by the Commerce Department in late July.

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