US second-quarter economic growth revised slightly higher; weekly jobless claims rise By Reuters – Investing.com
- Date: 26-Aug-2021
- Source: Investing.com
- Sector:Economy
- Country:Middle East
US second-quarter economic growth revised slightly higher; weekly jobless claims rise By Reuters – Investing.com
WASHINGTON (Reuters) - The U.S. economy grew a bit faster than initially thought in the second quarter, lifting the level of gross domestic product above its pre-pandemic peak, as massive fiscal stimulus and vaccinations against COVID-19 boosted spending.
Gross domestic product increased at a 6.6% annualized rate, the Commerce Department said on Thursday in its second estimate of GDP growth for the April-June quarter. That was revised up from the 6.5% pace of expansion reported in July.
Economists polled by Reuters had expected that second-quarter GDP growth would be raised to a 6.7% pace.
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