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| Version 0 | Version 1 |
|---|---|
| US economic growth revised upwards | US economic growth revised upwards |
| (35 minutes later) | |
| The US economy grew at an annual rate of 4.2% in the second quarter of the year, according to revised figures from the US Department of Commerce. | The US economy grew at an annual rate of 4.2% in the second quarter of the year, according to revised figures from the US Department of Commerce. |
| The revision upwards from 4.0% reflected stronger business spending and exports. | The revision upwards from 4.0% reflected stronger business spending and exports. |
| It was the fastest pace of growth since the third quarter of 2013. | It was the fastest pace of growth since the third quarter of 2013. |
| A separate report from the US Labor Department showed the number of people applying for unemployment benefits fell by 1,000 to 298,000 last week. | |
| Economists polled had expected the pace of growth to be revised down to 3.9%. | |
| The US economy has rebounded strongly after shrinking at an annual rate of 2.1% in the first quarter. | |
| However, the contraction in the first three months of the year was blamed on harsh winter weather which discouraged shoppers and hampered manufacturing. |