US economic growth for last quarter is revised up to a solid 3% annual rate
The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said Thursday in an upgrade of its initial assessment. The Commerce Department had previously estimated that the nation’s gross domestic product — the total output of goods and services — expanded at a 2.8% rate from April through June. The second-quarter growth marked a sharp acceleration from a sluggish 1.4% growth rate in the first three months of 2024.
