U.S. Growth Revised Up

The US economy grew faster than previously thought in the second quarter, according to revised official data, expanding at the steepest rate since the fourth quarter of 2011. Gross domestic product increased at an annualised rate of 4.6% in the three months to June, up from a prior estimate of 4.2% and a welcome revival from the 2.1% decline seen in the first three months of the year.

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