The U.S. economy grew 2.2% in the second quarter of the year, slightly less than in the first one (when it grew 2.5%) but above its previous estimate of 1.5%, new figures show.
The data from the Commerce Department's Bureau of Economic Analysis noted that "real GDP was revised up 0.7 percentage point from the second estimate, primarily reflecting upward revisions to investment, consumer spending, and government spending." Consumer spending, which accounts for about 70% of the U.S. economic activity, climbed 3.8%, up from 0.7% in the first quarter.
