Second Quarter Economic Growth Revised Up
Washington, DC, Aug. 29, 2013 -- The economy in the second quarter grew far more than initial estimates, according to the Commerce Department.
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Gross domestic product grew at an annualized rate of 2.5%, up from the initial estimate of 1.7%.
Analysts were expecting an upward revision to 2.2%. Durable goods orders were largely responsible for the increase.
First quarter GDP grew at a 1.1% pace.